Saudi Events Investment Fund and Legends Global Form JV to Build the Kingdom’s Next Generation of Sports Venues

Saudi Arabia’s Events Investment Fund has announced a joint venture with Legends Global to design, develop and operate an expansive new network of world-class sports and entertainment venues across the Kingdom. The agreement represents a decisive step in Saudi Arabia’s plan to become a leading global destination for major international sporting events, supported by modern infrastructure capable of hosting elite competitions.

The partnership was unveiled at the MOMENTUM 2025 Development Finance Conference and signals a shift from temporary event structures to permanent, high-performance facilities built to global standards. These venues will be capable of accommodating international football tournaments, combat sports championships, motorsport events, racquet sports competitions and large-scale esports finals.

Legends Global brings extensive experience operating stadiums and arenas for major leagues, Olympic events and premium entertainment properties. Their expertise will guide the design and operational model of Saudi Arabia’s new venues, ensuring they meet international expectations for fan engagement, digital integration, athlete performance and commercial operations.

The Events Investment Fund, created to support Vision 2030’s entertainment and sports objectives, will provide the strategic investment framework behind the venture. This includes aligning venue development with national goals relating to tourism, job creation, talent development and diversification from oil-based revenue.

EIF CEO Wahdan Suliman Alkadi has described the joint venture as a transformative moment for the Kingdom’s sports economy. World-class infrastructure is becoming essential as Saudi Arabia increases its presence on the global sports calendar through events in football, boxing, Formula 1, tennis and golf. Permanent venues allow for long-term planning and elevate the country’s ability to secure recurring hosting rights.

The partnership also strengthens local sports ecosystems by creating facilities for domestic leagues, youth development and community participation. With enhanced training environments and larger platforms for national competitions, Saudi athletes stand to benefit from improved resources and exposure.