Qatar Sports Investments, the owner of top French football team Paris Saint-Germain, has acquired the World Padel Tour, marking another sport increasingly dominated by a Middle Eastern investor.
The agreement will consolidate the sport’s two biggest professional tours — The World Padel Tour and QSI-backed Premier Padel — into a single global one under the name Premier Padel. Set to launch in 2024, the new competition will be governed by the International Padel Federation, QSI said Thursday
Padel, a hybrid between tennis and squash, has long been popular in Spain and Argentina but is quickly gathering fans around the world. The sport now counts 25 million players in over 90 countries. A padel club was even opened in mid-town Manhattan earlier this year, a testament to the sport’s increasing popularity in the US.
Middle Eastern sovereign wealth funds have recently been pouring into professional sports across the world. Saudi Arabia’s Public Investment Fund owns English football team Newcastle United FC and LIV Golf, which it is attempting to merge with the dominant PGA Tour.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eight bodies retrieved after Moscow sewer tour accidentMOSCOW (Reuters) - Russian rescuers have retrieved the bodies of all eight people who went missing after heavy rain trapped them in Moscow's sewer ...
Read more »
PGA Tour's Jay Monahan is confident on deal over Saudi-funded LIV GolfPGA Tour Commissioner Jay Monahan expressed the same level of confidence Tuesday that he did last year at the season-ending Tour Championship. The difference was the topic. A year ago, Monahan unveiled a bold new model for the PGA Tour aimed at fending off the Saudi-funded LIV Golf League. Now it's about getting a deal done with the Saudis.
Read more »
Scottie Scheffler in driver's seat at Tour Championship from East LakeThe culmination of the FedEx Cup Playoffs arrives with the Tour Championship from East Lake in Atlanta this week, where Scottie Scheffler opens the tournament with a lead at 10-under. Scheffler will be looking exorcise demons, having failed to capitalize on his advantage at the tournament last year.
Read more »
How to watch: TOUR Championship at East Lake on TSN, TSN+Watch and stream the TOUR Championship live on TSN+ starting on Thursday, August 24.
Read more »