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Saudi sovereign wealth fund the Public Investment Fund (PIF) is said to be considering a bid for Qatar-based broadcaster BeIn Sports.
A Bloomberg report said the PIF is one of several potential suitors for the broadcaster, which was banned in the kingdom in 2017 during the diplomatic crisis between Qatar and other gulf states before being restored last year.
The move is thought to be part of Saudi Arabia’s Vision 2030 efforts, which are designed to reduce economic dependence on oil through diversification, but no formal approach has yet been made.
The country has already hosted Formula One, WWE wrestling and is to host the Asian Winter Games in 2029
BeIN is also understood to be considering an initial public offering (IPO).
(Writing by Imogen Lillywhite; editing by Seban Scaria)
