Tag Archives: Public Investment Fund

Garbine Muguruza Named Tournament Director of 2024 WTA Finals Riyadh

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Garbine Muguruza may be retired from professional play, but she hasn’t left the tennis world.

The 30-year-old Spanish-Venezuelan former professional tennis player, a former Wimbledon and French Open champion, has been named the WTA Finals tournament director, making her the first ex-player to take the helm of the season-ender, which will be held in Riyadh from this year.

Garbine MuguruzaEarlier in 2024, Riyadh secured a three-year deal to host the season finale that features the top eight singles players and doubles teams, replacing last year’s hosts in Cancun, Mexico.

Muguruza will work with the WTA, the Saudi Tennis Federation and Ministry of Sport on strategic planning and delivery, as well as helping grow the profile of tennis in the Middle East, the elite women’s governing body said.

“I feel very privileged to be able to contribute to the future of this great sport,” Muguruza said in a statement. “I know how special this event is for our top players and I’ve also seen its potential to inspire communities all over the world.

“I’m excited to work with a great team to present a showcase for women’s tennis that not only grows tennis but encourages all fans, and especially girls and women, to pursue their dreams.”

The former world No. 1, who won the French Open in 2016, Wimbledon in 2017 and the WTA Finals in 2021, retired at age 30 in April.

This year’s WTA Finals will run from November 2-9.

Saudi Arabia has invested heavily in sports such as soccer, Formula One and golf in the past few years while critics accuse the kingdom of using its Public Investment Fund to “sportswash” its human rights record.

The country denies accusations of human rights abuses and says it protects its national security through its laws.

WTA chief Steve Simon said last year that Saudi Arabia presented “big issues” as a host for women’s tour events but also acknowledged the progress it had made and continued to engage with players before the WTA Finals deal was struck.

There had also been pushback from tennis greats Chris Evert and Martina Navratilova, who said the WTA’s values were in contrast to those of Saudi Arabia.

Rafael Nadal to Play in “6 Kings Slam” Exhibition Event in Saudi Arabia

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Rafael Nadal is headed to the Middle East this fall.

The 37-year-old Spanish professional tennis player, the former World No. 1, is set to play in an exhibition event in Saudi Arabia in October, the kingdom’s latest move into tennis.

Rafael NadalNadal will be joined by Novak Djokovic, Carlos Alcaraz, new Australian Open champion Jannik Sinner, Daniil Medvedev and Holger Rune in what’s being touted as the “6 Kings Slam” in Riyadh.

All but Rune have won at least one Grand Slam title. Djokovic holds the men’s record with 24, followed by Nadal with 22. Alcaraz has two, and Sinner and Medvedev one apiece.

Nadal was recently announced as an ambassador for the Saudi Tennis Federation.

The ATP men’s tour moved its annual tournament for leading players who are 21 and under to Jedda, and the WTA women’s tour is in negotiations to put its season-ending championship in Saudi Arabia.

Saudi Arabia has pumped huge amounts of money into sports, such as soccer, Formula One, boxing and golf, with critics accusing the country of using its Public Investment Fund to engage in sportswashing over its human rights record, including the treatment of women and members of the LGBTQIA+ community.

The kingdom denies accusations of human rights abuses and says it protects its national security through its laws.

Newcastle United Signs Bruno Guimaraes from Lyon

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Bruno Guimaraes is crossing the English Channel…

Newcastle United has completed the signing of the 24-year-old Brazilian professional footballer from France’s Lyon in a €50.1 million deal.

Bruno GuimaraesIt’s the team’s third signing since being taken over by a consortium led by Saudi Arabia’s Public Investment Fund in October.

The move for Guimaraes follows the arrivals of defender Kieran Trippier from Atletico Madrid and striker Chris Wood from Burnley.

The club said in a statement: “Newcastle United are delighted to confirm the signing of Brazil international Bruno Guimaraes on a four-and-a-half-year deal.

“The 24-year-old midfielder joins the Magpies for an undisclosed fee from Lyon, where he has been one of the outstanding performers in Ligue 1 over the past two seasons, and will wear shirt No. 39 — the number of the taxi once driven by his father.”

Lyon said in a statement later on Sunday that the deal was worth €50.1m, including €8m in performance-based clauses, with a 20% sell-on fee.

Sources have told ESPN that Newcastle offered Guimaraes a £120,000-a-week contract — four times his wage at Lyon.

“Bruno is a hugely exciting talent and has been one of our primary targets so I’m delighted to secure him,” manager Eddie Howe said. “He strengthens the group immediately ready for the challenge ahead.

“He has been one of the standout performers in France and is a full international for Brazil so I have no doubt our supporters will really enjoy watching him. We look forward to welcoming him to the club on his return from international duty.”

Guimaraes began his career at Atletico Paranaense before joining Lyon in January 2020 for €21.5m.

The midfielder also has three international caps for Brazil and has been away with Tite‘s squad for their World Cup qualifiers against Ecuador and Paraguay.

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