North American soccer’s governing body Concacaf has entered into a multi-year strategic partnership with Saudi Arabia’s Public Investment Fund (PIF).
Through a deal unveiled yesterday (August 15), the PIF has added Concacaf to its list of existing sporting partners, including English soccer’s Newcastle United, tennis’ ATP and WTA, and the Formula E, Extreme E, and E1 electric racing series'. It also runs the breakaway LIV Golf series, with a potential merger between that property and the established PGA Tour having now seemingly ground to a halt.
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The agreement will aim to “grow football at every level of the game in North America,” both parties have said, across the various Concacaf national team and club tournaments as well as soccer development initiatives.
The deal has been announced as three Concacaf nations (Mexico, the US, and Canada), prepare to host the 2026 FIFA World Cup national teams tournament.
The PIF has also been brought on board to help increase the number of youth tournaments Concacaf can deliver in the coming years.
This represents the first major entry of PIF into North American soccer, an industry sector that is seeing its commercial appeal grow significantly as the US population, in particular, embraces soccer more and more as a mainstream sport.
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By GlobalDataThe PIF’s last major sporting activity came in March, when it was announced as a global partner of women’s tennis’ WTA governing body (following a similar ATP tie-up in February).
Research by GlobalData earlier this year showed that the PIF’s total spending across its five main sports of soccer, golf, motor racing, horse racing, and boxing had (at that point) exceeded $7.68 billion, primarily through the group’s purchase of Newcastle, and through LIV Golf.
Allegations of sportswashing have been repeatedly leveled against the PIF over this time, with many claiming that the company is using its investments to shield the kingdom from public criticism of its environmental and human rights record.
Victor Montagliani, president of Concacaf and vice president of global soccer’s FIFA, has said: “We are very pleased to announce this new strategic partnership which will support the confederation in developing all levels of football across our region.
“This is a pivotal time for PIF to connect with football in Concacaf. Interest in the sport is growing rapidly in our confederation and will reach new heights as major Concacaf competitions take place over the next two years."
Mohammed Al Sayyad, the PIF’s head of corporate brand, added: “We are delighted to partner with Concacaf as the confederation enters an exciting period. Together, we will advance a series of initiatives to create a positive and lasting impact across all Concacaf competitions.”
It has been reported that, for PIF, the partnership will see its new Riyadh Air airline promoted at various Concacaf events.
