QSI acquires World Padel Tour : Qatar Sports Investments (QSI) has bought the World Padel Tour (WPT). This is a major event in sports. This project is a big step for the Middle East’s interests in global sports.
QSI runs Paris Saint-Germain, a famous French football team. Now, the company is focusing on padel, a growing sport. Per the latest news release, the acquisition will merge WPT into a global padel championship called Premier Padel.
The financial deal details are still undisclosed. It’s the outcome of discussions between QSI and Damm, owner of Setpoint Events, which operates WPT. People can anticipate the launch of this new game in 2024. The International Padel Federation will oversee it.
Neither the WPT nor the Premier Padel events will change for 2023. Careful work is being done to combine the two events into a single Premier Padel global extravaganza in 2024.
Nasser Al-Khelaifi, QSI Chairman, called the deal a significant step for padel. He suggested that the International Padel Federation should oversee all major padel competitions, starting next year.
Padel, a stick sport similar to tennis from Mexico, is gaining popularity in the sports world.
A study by Deloitte reveals that the padel business is valued at $2 billion, with projections indicating potential growth to $4 billion by 2026. The study also highlights the sport’s infrastructure. By 2026, there are expected to be 85,000 padel courts worldwide, a significant increase from the current 40,000.
Our Reader’s Queries
Who bought World Padel Tour?
Qatar Sports Investments (QSI), a subsidiary of the Qatari sovereign wealth fund, is set to acquire the World Padel Tour (WPT) from the Spanish Damm Group. This move marks a significant step for QSI in expanding its sports portfolio and further establishing its presence in the global sports industry. The WPT, a popular professional padel tennis circuit, is expected to benefit from QSI’s expertise and resources, paving the way for exciting developments in the sport.
Who owns Premier Padel?
Premier Padel, which is owned by Qatar Sports Investments (QSI), recently announced that it has successfully resolved its longstanding dispute with the World Padel Tour (WPT) by acquiring it from Setpoint Events, which is owned by Spanish brewery giants Damm.
Is Nasser Al Khelaifi in Premier Padel?
As the Chairman of Premier Padel, Mr. Al-Khelaïfi leads the way in the world’s fastest growing sport. Premier Padel is a top professional tour and one of the quickest start-up tours in the history of world sport.
What is the most prestigious padel tournament?
The World Padel Tour (WPT) is the foremost and widely followed padel tour globally. The Master Final, which is the ultimate tournament of the year, features only the top eight pairs of both men and women. The Master tournaments offer the highest ranking points. Additionally, the Open 500 is a fresh tournament format that has been introduced.
