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Lord Coe will attend this weekend’s Saudi Arabian Grand Prix as athletics looks to become the latest sport to receive investment from the Gulf state.
Mail Sport understands that the World Athletics president will meet representatives of the Saudi Public Investment Fund during his stay in Jeddah.
If talks are successful, a sponsorship deal could be reached with PIF, which could also lead to a major athletics event being held in the Middle Eastern country for the first time.
World Athletics plans to launch a new end-of-season global competition in 2026 and is currently canvassing potential host cities.
While that event may prove too soon for Saudi Arabia, the cash-rich kingdom could consider hosting the World Athletics Championships in 2031 or 2033.
Seb Coe will be present at this weekend’s Formula One Grand Prix in Saudi Arabia
All eyes will be on Jeddah this weekend as Max Verstappen will look to continue his dominant start to the Formula One season.
Athletics could be the next major sport to receive investment from the Gulf state, with Coe set to meet PIF representatives to discuss a potential sponsorship deal.
Coe has been open about his attempts to attract new investment from previously untapped resources.
The need for new sponsors has become especially relevant in recent days given the threat from Michael Johnson’s breakaway league, which plans to launch next year.
Ahead of last weekend’s World Indoor Championships in Glasgow, Coe was asked directly if he was speaking to PIF and said: “There are some global discussions going on and that gives me comfort.”
‘We made a strategic decision to grow the sport organically. We felt there were some revenue streams we could tap into.
“We have conversations every day with hedge funds and venture capitalists and with organizations that want to bring in fresh resources.”
Saudi Arabia has hosted several major sporting events in recent years, leading to accusations that the country is attempting to “sportswash” its atrocious human rights record.
Just this week, a new World Masters of Snooker tournament concluded in Riyadh, with Ronnie O’Sullivan beating Luca Brecel in Wednesday’s final to win £250,000.
Coe has been open about his attempts to attract new investment from previously untapped resources.
Track and field legend Michael Johnson announced plans for a breakaway league two weeks ago.
The ATP tennis circuit announced a five-year sponsorship agreement with the PIF at the end of February.
PIF also funds LIV Golf, with PIF Governor Yasir Al-Rumayyan pictured (second left) alongside former US President Donald Trump (first left) and LIV CEO , Greg Norman (third from left).
Anthony Joshua will also fight Francis Ngannou in Riyadh on Friday, with the Formula One race in Jeddah taking place the following day.
Late last month, the ATP tennis tour announced a five-year sponsorship deal with PIF, which also runs LIV Golf and owns four of the Saudi Pro League teams, as well as Newcastle United in England.
British middle-distance star Josh Kerr, the 1,500m world champion, said last weekend that he would be willing to run in Saudi Arabia if it meant there was more money in athletics.
“We’re walking a very fine line with some of the LIV Golf things,” he said. “But if people want to come and invest money in the sport, then I think it’s necessary.”
The World Athletics Championships have been to the Middle East once before, when it was held in Doha, Qatar, in 2019.