MONEY CAN BUY YOU STARS
Business Standard|November 23, 2024
What's behind West Asia's multi-billion charm offensive to become a destination for all kinds of sports stars?
VISHAL MENON
MONEY CAN BUY YOU STARS

Coco Gauff's moment of glory was hard-earned. She had to fight numerous battles: Indifferent form, inner demons, Riyadh's sweltering heat and a rampaging opponent in China's Olympic gold medallist Zheng Qinwen.

The 20-year-old American displayed guts, gumption, and mental fortitude to come from 2-0 and 5-3 down in the final set to clinch the WTA Finals trophy a fortnight ago.

The triumph was a cataclysmic moment in tennis. Gauff walked home with an eye-popping $4.8 million in prize money-the largest sum awarded in women's sports and the highest earned by any tennis player, male or female, at a professional event.

Last month, world's top ranked male tennis player Jannik Sinner laughed his way to the bank, pocketing $6 million by winning the Six Kings exhibition tournament, which was staged in Riyadh.

These events underscore Saudi Arabia's vaulting ambitions to reshape the tennis landscape, with the oil-rich kingdom's deep pockets and strategic investments playing a key role in the sport's evolving narrative. And the vaulting ambitions are not confined to tennis.

This weekend, the Indian Premier League (IPL) franchise honchos will be jetting off to Jeddah for the mega IPL auction. Next year will see the Saudi Cup, a $20 million horse race, followed by the fifth consecutive Saudi Arabian F1 Grand Prix, further illustrating Saudi's unstoppable march in the world of sports.

"Sports is a multi-billion-dollar charm offensive," Dubai's ruler Sheikh Mohammed ibn Rashid AI Maktoum, prime minister of the United Arab Emirates and Emir of Dubai since 2006, once said. Through sport, he believes he can improve the region's image and reduce its dependence on oil by driving tourism.

Neighbouring petro-states such as Qatar and Bahrain have also invested staggering sums to usher in a galaxy of sporting stars to their region.

Ronaldo, Messi

This story is from the November 23, 2024 edition of Business Standard.

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This story is from the November 23, 2024 edition of Business Standard.

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