- Qatar Sports Investments, the owner of the French soccer club Paris Saint-Germain, has expanded its portfolio by acquiring the World Paddle Tour, introducing a new sport into the increasingly Middle East-influenced world of sports investment. Under this acquisition, the World Padel Tour and Premier Padel, both major professional tours in this field and backed by Qatar Sports Investments, will be merged into a single global tour named Premier Padel.
- According to the announcement made by Qatar Sports Investments on Thursday, this fresh competition is set to debut in 2024, with operational oversight by the International Padel Federation. The value of this acquisition is estimated to reach tens of millions of dollars. Nasser Al-Khulaifi, Chairman of the Board of Directors of Qatar Sports Investments and a passionate paddle player, remarked, "This marks a historic juncture for the world of padel."
Why it matters
Padel, a sport that combines elements of tennis and squash, has enjoyed enduring popularity in Spain and Argentina. However, it has rapidly garnered a global following, boasting 25 million players across over 90 countries.