Soccer-FIFA and Saudi Arabia's PIF partner up for Club World Cup - joint statement

By Julien Pretot

PARIS, June 5 (Reuters) - Soccer's governing body FIFA and Saudi Arabia’s Public Investment Fund (PIF) announced a partnership on Wednesday for the Club World Cup, which kicks off in the U.S. on June 14.

The partnership marks another major move by PIF to expand its global sports portfolio, following investments in football, golf and motorsport.

The month-long tournament will bring together 32 of the world's top clubs for the first time, competing in 11 cities across the U.S.

The deal builds on PIF’s existing partnerships in international football, including a tie-up with CONCACAF announced last year.