New York (USA): On Thursday, August 15th, 2024, the football world received surprising news as Saudi Arabia’s Public Investment Fund (PIF) signed a major partnership deal with CONCACAF, the governing body for football in North America, Central America, and the Caribbean.
This announcement is particularly significant because the region will be hosting the 2026 World Cup, which will be held in the United States, Mexico, and Canada. This partnership promises to bring growth and development to the sport throughout the CONCACAF region.
The deal between Saudi Arabia’s PIF and CONCACAF was officially unveiled on Thursday. It comes at a time when football in the region is gaining more attention than ever, with the upcoming World Cup expected to be the biggest in history.
CONCACAF and PIF stated that the purpose of this partnership is to help boost the sport across all 41 CONCACAF federations. While the financial details of the agreement have not been disclosed, the partnership will cover support for men’s, women’s, and youth national team competitions, as well as club tournaments within the region.
The partnership follows Saudi Arabia’s PIF making significant investments in various sports across the globe. In recent years, PIF has backed ventures such as LIV Golf, a competitor to the established PGA and European Golf Tours.
The fund has also made moves in tennis and football, further cementing its influence in international sports. Now, with this new deal in place, PIF’s involvement in football continues to grow, particularly as the 2026 World Cup looms on the horizon.
“We are delighted to partner with CONCACAF as the confederation enters an exciting period,” said Mohammed AlSayyad, head of corporate brand for Saudi Arabia’s Public Investment Fund. He expressed optimism about the future of the sport in the region, noting the potential for significant growth in the coming years.
This deal comes at a critical moment for football in North America, Central America, and the Caribbean. The region is set to host the largest FIFA World Cup ever, with 48 teams competing, a significant expansion from the 32 teams seen in previous tournaments.
The partnership is expected to help elevate football across the region, from the grassroots level to elite competition. CONCACAF President and FIFA Vice President Victor Montagliani echoed this sentiment, stating that the partnership will support all levels of football.
“We are very pleased to announce this new strategic partnership which will support the confederation in developing all levels of football across our region,” Montagliani said. He also pointed out the growing interest in football across the region, adding that the sport will likely reach new heights as the 2026 World Cup approaches.
Montagliani believes that the upcoming tournaments, including major CONCACAF competitions in the next two years, will drive the sport’s popularity even further.
This partnership has the potential to be a game-changer for football within CONCACAF, particularly as the region continues to prepare for the 2026 World Cup.
The tournament is expected to bring unprecedented attention and investment to football in North America, Central America, and the Caribbean, and PIF’s involvement could provide the resources needed to capitalize on this momentum.
However, the growing influence of Saudi Arabia’s Public Investment Fund in global sports has not been without controversy. Critics argue that the country’s investments in sports are part of a broader effort to improve its international image and distract from its human rights record.
Earlier this year, tennis legends Martina Navratilova and Chris Evert criticized the decision to host the prestigious WTA Finals in Saudi Arabia, questioning the country’s suitability to host such an event.
Despite these concerns, the partnership between PIF and CONCACAF is set to proceed, with both parties looking forward to the future of football in the region.
The increasing involvement of Saudi Arabia in global football reflects the kingdom’s ambition to become a major player in the world of sports, and this latest deal underscores that commitment.
While the financial specifics of the deal remain undisclosed, it is clear that this partnership has the potential to shape the future of football in North America, Central America, and the Caribbean for years to come.
With the World Cup just two years away, all eyes will be on the region as preparations intensify. This collaboration between PIF and CONCACAF could provide a much-needed boost to football in the area, ensuring that the 2026 World Cup leaves a lasting legacy.
