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Saudi PIF ‘commits more than $2bn’ to football sponsorship

Newcastle United midfielder Bruno Guimarães celebrates after scoring during the Premier League match against Brentford (by Richard Callis/MB Media/Getty Images)

Saudi Arabia’s Public Investment Fund (PIF) has disclosed it has committed to spending more than $2bn (€2.06bn) on long-term football sponsorship deals this year.

The sovereign wealth fund said it had entered into sponsorship agreements “with multiple football clubs amounting to SAR8.75bn (€2.4bn/$2.3bn)” in the first eight months of 2022, according to the Financial Times, citing accounts that PIF shared with investors in a $2bn bond it raised last week.

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