Saudi Arabia’s PIF has signed to become the “title sponsor of the series on the Ladies European Tour that has been previously headlined by Aramco,” according to Jill Lopez of GOLF DIGEST. The five-tournament series, which has both team and individual events and will now be known as the PIF Global Series, has a combined purse of $13M. The next PIF-sponsored event is this week in South Korea, with stops in London, China and Houston to follow. The series has existed since 2020 and has included five events in each of the past three years (GOLF DIGEST, 5/7). CNBC.com’s Jessica Golden wrote Saudi Arabia has been “aggressively investing in professional sports in recent years as part of its vision to diversify the country’s economy away from oil.” Despite the fact that Saudi Arabia has been “slow to give Saudi women rights,” those investments have included “spending big money on international women’s sports.” The fund last May signed a multiyear partnership with the WTA Tour to “grow the game and improve women’s benefits in the league.” The PIF in March announced it will fully finance the WTA’s maternity fund, which would allow women to take up to a year of leave fully paid (CNBC.com, 5/7).
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