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.
