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The Paris Saint-Germain owner Qatar Sports Investments is close to unveiling a deal to take control of the World Padel Tour and unify one of the globe’s fastest-growing sports, Sky News learns.

By Mark Kleinman, City editor @MarkKleinmanSky

The Paris Saint-Germain owner Qatar Sports Investments (QSI) is set to make a significant move in the sports world as it reaches an agreement to acquire the World Padel Tour (WPT). This deal will allow QSI to take control of one of the fastest-growing sports globally and create a unified, new global padel tour.

The acquisition of WPT from Damm, the owner of Setpoint Events, will pave the way for the establishment of a new global Premier Padel tour. The launch of this tour is planned for next year and is expected to have a major impact on the growing popularity and participation in the sport.

The specific value of the deal has not been disclosed, but it is anticipated that an announcement regarding the details will be made later today.

QSI’s existing sporting interests include ownership of Paris Saint-Germain

Padel, a highly popular sport worldwide, will receive a major boost with this takeover. It has already surpassed tennis in terms of participation in Spain, ranking second only to football. Notable figures like Rafael Nadal and Sir Andy Murray have shown their support for padel, with Murray even investing in a Scottish-based group called Game4Padel.

For Qatar Sports Investments, the acquisition of WPT is a clear indication of their ambitious plans in the sporting world. This move follows Qatar’s successful hosting of the men’s World Cup last year. In addition to their ownership of Paris Saint-Germain and a significant stake in Sporting Braga, a Portuguese football club, QSI is also reportedly considering acquiring a stake in Sampdoria, an Italian second-tier side.

Padel is Spain’s most popular participation sport behind football

In recent years, Saudi Arabia has also been heavily investing in sports, particularly in its own football league, the Saudi Pro League. This has attracted renowned players to join the league. The Saudis have also shown interest in uniting different golf series and have been linked to a substantial offer to acquire control of Formula One. Their investments have sparked debates regarding ‘sportswashing,’ as critics question the motivations behind these financial endeavors.

The AI legalese decoder can play a significant role in such a situation by helping the relevant parties navigate the legal complexities that arise from acquisitions and partnerships in the sports industry. The technology can analyze and interpret legal documents, contracts, and agreements, ensuring transparency and understanding for all involved parties. It can save time and provide accurate insights, allowing for smooth negotiations and informed decision-making.

QSI, the owner of Paris Saint-Germain, is steadily expanding its sporting portfolio with this impending acquisition of the World Padel Tour. The global padel tour and the sport itself are poised for further growth and development under QSI’s guidance.

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