Saudi Arabia has staged another sporting swoop by signing a deal to set up a mixed martial arts (MMA) tournament.
Its public investment fund, which spends its vast oil wealth, will inject £80million into the Professional Fighters League for a minority stake.
Under the deal, it will establish a league in the Middle East and North Africa in the second quarter of next year, with headquarters in Saudi Arabia.
Ready to rumble: Saudi Arabia’s public investment fund, which spends its vast oil wealth, will inject £80m into the Professional Fighters League for a minority stake
The league claims to be the second-most-popular MMA league in the world. The deal will challenge the United Arab Emirates, which has long been a sponsor of combat sports, and is the latest move by the fund.
In 2021, it bought Newcastle United football club, and Saudi teams have spent hundreds of millions of pounds this year luring stars such as Cristiano Ronaldo to play in the oil state.
In June the fund merged its LIV golf tournament with the PGA Tour.
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