Saudi PIF expands North America presence: Investment deal agrees as regional soccer federation prepares to stage 2026 Fifa World Cup.
Concacaf, the soccer federation for North America, Central America and the Caribbean, has announced a multi-year partnership with Saudi Arabia’s Public Investment Fund (PIF).
The partnership will aim to expand the sport’s growth at all levels in the region, with Concacaf club and national team tournaments for men’s, women’s and youth soccer to be boosted. PIF’s entrance into North American soccer comes ahead of the 2026 Fifa World Cup, which will be hosted by Canada, Mexico and the United States.
With the Saudi fund’s investment, Concacaf will increase the number of youth tournaments it runs in the coming years, as part of the goal of strengthening and advancing Concacaf soccer development initiatives. Existing community programs will also be expanded further as part of the partnership.
Victor Montagliani, Concacaf president and Fifa vice president, said: “We are very pleased to announce this new strategic partnership which will support the confederation in developing all levels of football across our region.
“Interest in the sport is growing rapidly in our confederation and will reach new heights as major Concacaf competitions take place over the next two years, and we get closer to the biggest-ever Fifa World Cup taking place in our region in 2026.”
PIF has made numerous investments in soccer, with the fund currently the majority owner of Premier League club Newcastle United. Last year it also acquired four Saudi Pro League outfits, including Cristiano Ronaldo’s side Al Nassr.
Outside of soccer, it is the main backer of the LIV Golf circuit, and remains in talks with the PGA Tour and DP World Tour over a potential merger. In tennis, the PIF is also a partner of both the ATP and WTA, while it is reportedly in talks to create a new boxing league.
“We are delighted to partner with Concacaf as the confederation enters an exciting period,” said Mohammed AlSayyad, head of corporate brand at PIF. “Together, we will advance a series of initiatives to create a positive and lasting impact across all Concacaf competitions.”
SportsPro says…
Saudi Arabia’s PIF has become a major sports investor over recent years, with an expansive portfolio spanning multiple properties. While some investments have seen the sovereign wealth fund create new competitions to rival existing structures, it appears to be willing to support Concacaf in furthering its existing initiatives.
The Gulf nation is currently the only country bidding to host the 2034 Fifa World Cup. Partnering with a continental governing body appears to be a strategic move to shore up support for its hosting ambitions, as well as expanding its soccer portfolio to another part of the world.
For Concacaf, further investment will be welcomed as it gears up preparations for the 2026 World Cup. It has recently expanded the number of women’s soccer competitions, with the inaugural W Gold Cup held earlier this year, and the W Champions Cup will also be launched in the coming months.
But with the PIF joining Saudi oil giant Aramco as a federation partner, Concacaf will inevitably face questions about its increasing alignment with the Middle Eastern kingdom, given the widespread criticism about the country’s human rights approach. With the US and Mexico preparing a joint bid to host the 2031 Women’s World Cup, concerns surrounding Saudi Arabia’s stance on women’s rights will likely be raised.
SOURCE: https://www.sportspromedia.com/news/concacaf-saudi-arabia-pif-soccer-investment-partnership/