Qatar Sports Investments Bets on Padel
Posted on 08/25/2023
Qatar Sports Investments is a closed shareholding organization founded in 2005 and based in Doha.
Qatar Sports Investments, together with the International Padel Federation, the Professional Padel Association and Damm — owner of Setpoint Events, which organizes the World Padel Tour (WPT) — have reached an agreement for the acquisition of the WPT. This deal will result in a single global professional padel tour, Premier Padel, governed by the International Padel Federation. Padel, sometimes called Padel Tennis, is a racket sport of Mexican origin, typically played in doubles on an enclosed court slightly smaller than a doubles tennis court.
Separate WPT and Premier Padel tours will be played as planned throughout the remainder of 2023 before the unification process gets underway.
Formed in 2013, World Padel Tour is a tour for the sport and features over 26 men’s and women’s tournaments across 14 countries, with 17 global sponsors, and broadcasting rights spanning more than 150 countries. Premier Padel was launched in 2022 and has become one of the fastest-growing tours in world sport.
In June 2011, Tamim bin Hamad Al Thani, the Emir of Qatar, bought 70% of Paris Saint-Germain club’s shares through Qatar Sports Investments. QSI acquired a majority stake in June 2011 and then became the club’s sole owner in March 2012.
On October 10, 2022, Qatar Sports Investments paid around €19 million for a 21.67% stake in SC Braga, who sit third in Portugal’s top division. SC Braga plays in the Primeira Liga.
Correction: August 29, 2023. Qatar Sports Investments is not a subsidiary of Qatar Investment Authority.