Momentum 25 and the reality of Saudi Arabia’s mega-projects Business The ‘Momentum 25’ conference is taking place in Riyadh this week, at a definitive juncture for the Kingdom of Saudi Arabia. The midpoint of the Vision 2030 timeline, launched in 2016 by Crown Prince Mohammed bin Salman, to diversify the nation’s economy away from hydrocarbon dependence. For nearly a decade, the global business community has [...]
Blavatnik investment in Dazn tops $7bn despite Surj stake sale Sport Business Billionaire Sir Leonard Blavatnik has now invested more than $7bn into sports streaming platform Dazn, having injected an extra $600m in 2024. While revenues increased by more than $300m to over $3bn and losses narrowed from $1.4bn to $936m, according to the accounts filed with Companies House for the year ending 31 December 2024, the [...]
Who owns each Premier League club as US shareholdings boom? Sport Business British firms or individuals are the biggest shareholders in just five Premier League clubs as US ownership booms ahead of the new season. Tony Bloom’s 96 per cent shareholding in Brighton and Hove Albion is the largest British stake in a Premier League club while Matthew Benham’s significant holding in Brentford is the only other [...]
Sir Rocco Forte enjoys record pay day after hotels empire deal August 13, 2025 The hotels group founded by Sir Rocco Forte has issued a record dividend for the first full year after Saudi Arabia’s Public Investment Fund (PIF) became a major shareholder. Rocco Forte Hotels has paid out dividends totalling £8.9m for the year to 30 April, 2025, to its shareholders. The international hotels group, which is headquartered in [...]
Surj Sports chief: Saudi parent PIF, investing and league focus July 1, 2025 Chief executive of Dazn investors Surj Sports Investments Danny Townsend discusses the state of the changing landscape. When Saudi Arabia’s Public Investment Fund purchased Premier League club Newcastle United in 2021, Middle Eastern sports spending was thrust into the voyeuristic forefront of executive and fan consciousness. Since then Saudi Arabia has invested in a multitude [...]
Aston Martin: PIF and Geely billionaire’s shares shift after investment May 12, 2025 The proportion of shares Saudi Arabia’s Public Investment Fund (PIF) and Chinese billionaire Shufu Li’s hold in luxury car brand Aston Martin has changed following a major shares issue. In March Yew Tree Consortium, which is led by chairman Lawrence Stroll, placed 75 million additional shares in the London-listed business. As a result, both the value of the [...]
Saudi Arabia’s PIF sponsors new $13m prize golf series May 8, 2025 The Saudi Arabia investment vehicle the Public Investment Fund (PIF) is to be the title sponsor of a revamped golf programme. The PIF Global Series will replace the Aramco Team Series and will have a total prize pot of $13m. The PIF Global Series will span five events on the Ladies European Tour (LET) – [...]
Newcastle United boost turnover by 30 per cent – but still make a loss March 4, 2025 Newcastle United’s return to the Champions League boosted turnover by almost 30 per cent last season, easing concerns over long-term compliance with the Premier League’s financial rules. The Magpies reported a loss of £11.1m but that still represented a £60m improvement on the previous year, thanks to revenue growing from £250.3m to £320.3m. Participation in [...]
LIV: Trump, Yasir Al-Rumayyan and Tiger Woods meet in White House February 21, 2025 President Trump, Public Investment Fund governor Yasir Al-Rumayyan and PGA Tour commissioner Jay Monahan met at the White House on Thursday with a new deal with LIV Golf edging closer. The PGA Tour, DP World Tour and LIV Golf have been in discussions surrounding a potential mega-merger which would unite golf as one global sports [...]
Saudi Arabia’s Surj Sports Investment confirms stake in Dazn February 17, 2025 Saudi Arabia’s Surj Sports Investment has confirmed that it has taken a minority stake in streaming platform Dazn and entered into a joint venture aimed at showing more events taking place in the kingdom. The announcement confirms long-running rumours of Saudi investment in Dazn and despite the country’s Public Investment Fund (PIF), of which Surj [...]