PIF’s know-how, capital investment 'winning combination for Saudi Arabia'
HOUSTON, 18 hours, 40 minutes ago
Local market experience and capital investment provided by Saudi wealth fund PIF makes for a compelling combination for organisations looking to power growth from the kingdom, a panel of thought leaders heard at the Aramco Houston Championship.
The Golf Saudi-supported session, part of the FII Institute’s Elevated Green series of topical debates, brought together a distinguished panel to discuss issues relevant to Houston, including the architectural energy challenges posed by the growth of AI and considerations for investors scaling up sports portfolios.
The series forms part of the lead-up to FII Institute’s flagship conference, FII9, which will take place in Riyadh from October 27 to 30.
A group of people sitting on a stageAI-generated content may be incorrect.
The event was staged at the Golfcrest Country Club in Houston on the eve of the Aramco Houston Championship, the fourth and penultimate stop in this season's PIF Global Series, where a field of 104 top-class women golfers will compete for team and individual prizes totalling $2 million.
When discussing the impact of private capital and private equity on potential growth areas in sport, John Martin, CEO of the Professional Fighters League, picked out his company's relationship with the Public Investment Fund as a key relationship for driving growth.
"Surj (PIF’s sports investment vehicle) made its investment a little over two years ago, and they are the largest minority owner in the PFL. We saw a real opportunity to partner and collaborate with Surj and PIF, because you look at Vision 2030 it's to grow the domestic economy, and so they're providing us with capital," stated Martin.
"They're providing us with local know-how, which is critically important, because you can't really, realistically go to the rest of the world unless you have local partners who know what they're doing. We've held about at 10 events there, and Surj is really ushering in a new era of sport within Saudi," he added.
The panel also stressed the importance of investing in infrastructure as a way of maximising value chains with many sporting properties building more opportunities created by their stadium to enhance the live experience.
Isaac Harrouche, the Co-Founder and CEO of 154 Partners, said: "There's no replacement for that live experience. And I think again, sports team owners and leagues want to drive that improved experience. You're seeing it across the country. These sports properties are becoming more than just stadiums for teams."
"Look at NFL teams. Their stadia used to be open from, let's say, 1pm to 4pm for an NFL game, the average NFL stadium is now open closer to 8 or 9am and it's open through the evening because people are really enjoying and participating in what is on offer," he noted.
According to Harrouche, The PIF Global Series is making its first stop with this week's Aramco Houston Championship in Texas, a key venue for the golfing industry with two women's Majors held in the state this year and also the city serving as Aramco’s US HQ.
Tickets for the Aramco Houston Championship are still available, at $20 for Saturday and Sunday, or a full weekend pass for $50.
As the penultimate stop of the inaugural PIF Global Series season, the Aramco Houston Championship continues to showcase how strategic investment, innovation, and collaboration are reshaping the landscape of women’s professional golf on an international scale, he added.-TradeArabia News Service
