Saudi Arabia, Following Soccer and Golf, Now Into Mixed Martial Arts?..."132.3 Billion Investment"

"Investment Stake in US Mixed Martial Arts Event 'PFL'" Report

Saudi Arabia, which has been pouring massive oil money into popular sports such as soccer and golf, is now reported to have invested in mixed martial arts (MMA). This move is seen as an effort to expand its influence regardless of criticism of 'sports washing,' which accuses the country of trying to cover up its human rights situation through sporting events.

Major foreign media outlets reported on the 29th (local time), citing multiple sources, that Saudi investment company SRJ Sports Investment has made a $100 million (approximately 132.3 billion KRW) equity investment in the American MMA league, the Professional Fighters League (PFL). SRJ Sports is a sports-focused investment subsidiary established earlier this month by Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF). Foreign media noted that this is the company's first investment.

Crown Prince Mohammed bin Salman of Saudi Arabia
[Photo by Reuters]

The PFL, which received the investment, was founded in 2017 and launched in 2018 as a U.S.-based MMA league. Among major MMA organizations, PFL is the first to operate a league where fighters compete in a regular season, post-season, and championship format rather than individual year-round events.

Based on the investment from SRJ Sports, PFL is expected to establish an MMA league centered on the Middle East and North Africa in the second quarter of 2024. The company overseeing this league is likely to be headquartered in Saudi Arabia. Additionally, Saudi Arabia plans to partner with PFL to operate a new pay-per-view program called 'PFL PPV Superfight,' featuring famous fighters.

Saudi Arabia has already shown interest in MMA. It previously announced that it will host a heavyweight bout between boxer Tyson Fury and former UFC heavyweight champion Francis Ngannou from Cameroon in Riyadh on October 28. With the United Arab Emirates (UAE) already investing in MMA in the Middle East, Saudi Arabia's approach is expected to heighten tensions between the two Middle Eastern countries.

Saudi Arabia's direct investment in MMA is seen as part of its broader effort to expand influence in major sports such as soccer, golf, and tennis. This year, Saudi Arabia attracted global soccer stars like Cristiano Ronaldo and Neymar da Silva to its domestic league, drawing significant attention from soccer fans. Last year, through the PIF, it established LIV Golf to compete with the PGA Tour in the United States, culminating in a merger this June. Since 2021, Saudi Arabia has also hosted the international auto racing event, Formula One (F1).

The reason Saudi Arabia is investing so heavily in sports is tied to the 'Vision 2030' blueprint led by Crown Prince Mohammed bin Salman. The strategy aims to transform the economy, which has relied solely on oil sales, into one based on future new industries, with the ambition of making Saudi Arabia a global 'sports mecca.' However, there is criticism that Saudi Arabia is using sports to wash its national image through sports washing.

This content was produced with the assistance of AI translation services.