Tag Archives: Public Investment Fund

Rafael Nadal to Play in “6 Kings Slam” Exhibition Event in Saudi Arabia

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Rafael Nadal is headed to the Middle East this fall.

The 37-year-old Spanish professional tennis player, the former World No. 1, is set to play in an exhibition event in Saudi Arabia in October, the kingdom’s latest move into tennis.

Rafael NadalNadal will be joined by Novak Djokovic, Carlos Alcaraz, new Australian Open champion Jannik Sinner, Daniil Medvedev and Holger Rune in what’s being touted as the “6 Kings Slam” in Riyadh.

All but Rune have won at least one Grand Slam title. Djokovic holds the men’s record with 24, followed by Nadal with 22. Alcaraz has two, and Sinner and Medvedev one apiece.

Nadal was recently announced as an ambassador for the Saudi Tennis Federation.

The ATP men’s tour moved its annual tournament for leading players who are 21 and under to Jedda, and the WTA women’s tour is in negotiations to put its season-ending championship in Saudi Arabia.

Saudi Arabia has pumped huge amounts of money into sports, such as soccer, Formula One, boxing and golf, with critics accusing the country of using its Public Investment Fund to engage in sportswashing over its human rights record, including the treatment of women and members of the LGBTQIA+ community.

The kingdom denies accusations of human rights abuses and says it protects its national security through its laws.

Newcastle United Signs Bruno Guimaraes from Lyon

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Bruno Guimaraes is crossing the English Channel…

Newcastle United has completed the signing of the 24-year-old Brazilian professional footballer from France’s Lyon in a €50.1 million deal.

Bruno GuimaraesIt’s the team’s third signing since being taken over by a consortium led by Saudi Arabia’s Public Investment Fund in October.

The move for Guimaraes follows the arrivals of defender Kieran Trippier from Atletico Madrid and striker Chris Wood from Burnley.

The club said in a statement: “Newcastle United are delighted to confirm the signing of Brazil international Bruno Guimaraes on a four-and-a-half-year deal.

“The 24-year-old midfielder joins the Magpies for an undisclosed fee from Lyon, where he has been one of the outstanding performers in Ligue 1 over the past two seasons, and will wear shirt No. 39 — the number of the taxi once driven by his father.”

Lyon said in a statement later on Sunday that the deal was worth €50.1m, including €8m in performance-based clauses, with a 20% sell-on fee.

Sources have told ESPN that Newcastle offered Guimaraes a £120,000-a-week contract — four times his wage at Lyon.

“Bruno is a hugely exciting talent and has been one of our primary targets so I’m delighted to secure him,” manager Eddie Howe said. “He strengthens the group immediately ready for the challenge ahead.

“He has been one of the standout performers in France and is a full international for Brazil so I have no doubt our supporters will really enjoy watching him. We look forward to welcoming him to the club on his return from international duty.”

Guimaraes began his career at Atletico Paranaense before joining Lyon in January 2020 for €21.5m.

The midfielder also has three international caps for Brazil and has been away with Tite‘s squad for their World Cup qualifiers against Ecuador and Paraguay.

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