Saudi fund grabs stake in US MMA league | The Express Tribune
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RIYADH: Saudi Arabia's sovereign wealth fund has acquired a minority stake in the Professional Fighters League (PFL), the two entities said Wednesday, the latest example of the kingdom's sports investment push. It is the first deal sealed by SRJ Sports Investments, a new company unveiled earlier this month by the Saudi fund known as the Public Investment Fund (PIF), that aims to draw "major global events" to Saudi Arabia. Sports have been a major component of the oil-rich Gulf kingdom's effort to rebrand as a global business and tourism destination under the Vision 2030 reform agenda pursued by Crown Prince Mohammed bin Salman, the PIF chairman. "Today marks a new milestone for SRJ as we make our inaugural investment," SRJ chairman Bander Bin Mogren said in a statement. "This investment aims to nurture the local and regional talent pool in martial arts, promote gender equality in sport, and bring new opportunities directly to Saud