LIV Golf is here to stay, says new CEO Scott O’Neil January 16, 2025 LIV Golf’s new CEO Scott O’Neil insists it will be a “full and participating member” of the professional game’s new landscape when a planned merger with the PGA Tour and DP World Tour is finally completed. Experienced sport and entertainment executive O’Neil’s appointment as the successor to Greg Norman appears to underline LIV Golf’s ambition [...]
Saudi Public Investment Fund nearing $1bn stake in Dazn January 14, 2025 Saudi Arabia’s Public Investment Fund is nearing a $1bn acquisition of a small minority stake in sport streaming platform Dazn. The London-based rights holder, which enjoys relationships with boxing’s Riyadh Season and a number of the top European football leagues, could potentially see its value pushed into the tens of billions after the injection. It [...]
Chauffeur firm Blacklane looks to ‘double down’ on London after Saudi cash injection January 13, 2025 Luxury chauffeur service Blacklane is looking to “double down” on London after announcing its largest-ever funding round late last year. The Berlin-based firm, which counts Mercedes-Benz and the Saudi Public Investment Fund (PIF)’s Tasaru Mobility among its investors, raised £53.5m in October amid long-running reports of a possible Initial Public Offering (IPO). Blacklane’s airport transfer [...]
Ahead of the Game: Man United cuts could be copied by other clubs December 30, 2024 Manchester United’s controversial move to slash the funding it provides to its charitable foundation as part of cost-cutting measures introduced by Sir Jim Ratcliffe could be followed by other Premier League clubs. The Manchester United Foundation are set to be the latest victims of Ratcliffe’s drive to cut costs at Old Trafford, with Sky News [...]
Heathrow to invest £2.3bn as Ardian and Saudis take stake December 18, 2024 Heathrow's investment is an uplift from prior forecasts of around £244m and will be used for upgrades across all its terminals.
Football regulator boss should come from the Square Mile, says Crouch October 29, 2024 Former sports minister Tracey Crouch says the incoming football regulator should be run by someone with a background in the City. Crouch has done more than anyone to give rise to the regulator by making it a key recommendation in her fan-led review of football governance. A revised bill laying out the watchdog’s proposed powers [...]
Man Utd deal was win-win for Ratcliffe and Glazers, says Raine Group October 16, 2024 Sir Jim Ratcliffe’s £1.25bn investment in Manchester United was a win for both him and majority shareholders the Glazers, insists the bank which brokered the deal. Ineos tycoon Ratcliffe shelled out for a 27.7 per cent stake in the Premier League football club in December and, in return, took over much of the decision-making from [...]
Selfridges: Saudi Arabia’s PIF invests in department store group October 8, 2024 Saudi Arabia’s Public Investment Fund (PIF) is now a joint owner of the business behind upmarket department store chain, Selfridges, it has been confirmed. Thai investor Central Group has announced a deal which will see it own 60 per cent of the group’s operating and property companies, with the PIF owning the rest. Central Group [...]
E1 series: Electric boat racing to head to Qatar in 2025 September 30, 2024 The all-electric E1 racing series will head to Qatar for the first time in season two, it was announced on Monday. The distant sibling to Formula E and Extreme H will kick off its season in the peninsular Arab country that hosted the 2022 Fifa World Cup – won by Argentina. The Corinthia Yacht Club [...]
Saudi Arabia’s PIF seeks to up Selfridges stake to 50 per cent July 21, 2024 Saudi Arabia's Public Investment Fund has made a bid to up its stake in Selfridges to 50 per cent for a cash price of £1m.