Saudi Arabia have made enormous ‘£1.5bn tennis takeover offer’

Saudi Arabia’s Public Investment Fund (PIF) has addressed recent claims regarding its purported £1.5 billion offer to the ATP and WTA Tours. Reports suggested that the PIF presented a “take it or leave it” proposal, combining both tours with a generous financial incentive. However, the PIF has clarified that there is no deadline attached to the offer, debunking earlier speculation.

According to sources, the PIF aims to integrate itself into the existing tennis ecosystem rather than acquire control over the sport. Their approach emphasizes collaboration with current governing bodies. The proposed merger would unite the men’s and women’s circuits, with ATP chairman Andrea Gaudenzi slated to assume the role of commissioner. Additionally, the plan includes adding a 10th Masters tournament in Saudi Arabia at the beginning of the tennis season.

The offer, totaling £1.5 billion with £780 million allocated to each tour, sparked discussions among key stakeholders. Gaudenzi addressed the proposal during a meeting focused on a new ‘Premium Tour’ model. This model, championed by Tennis Australia boss Craig Tiley, envisions an elite 14-tournament tour featuring the Grand Slams, 10 Masters events, a team competition, and a combined season-ending championship.

However, tensions arise as the proposed Saudi-hosted Masters 1000 tournament could replace the current United Cup, a mixed-gender event organized by Tennis Australia. This potential displacement is believed to be motivating Tiley’s endorsement of the Premium Tour model, which grants greater influence to the Grand Slams in top-tier events.

In summary, while the PIF’s offer signals a significant financial opportunity for tennis, the broader implications for the sport’s structure and existing competitions remain subject to ongoing negotiations and deliberations among stakeholders.