Saudi Arabian events company Sela has announced a new strategic partnership with global sportswear brand adidas.

Sela, owned by Saudi Arabia’s state-owned investment group the Private Equity Fund (PIF), will collaborate with Adidas to grow and develop both businesses and sports participation.

Sela senior vice-president Ibrahim Mohtaseb stated: "We are thrilled to embark on this strategic journey with Adidas, a global leader whose commitment to excellence mirrors our own.”

“By combining our strengths and focusing on mutual growth, we are confident that this partnership will not only redefine industry standards but also create innovative solutions that resonate with consumers worldwide and within Saudi Arabia."

The partnership will be global-facing, however, it will harbor a “strong” focus on Saudi Arabia for hosting brand activations and events hostings.

Bilal Fares, general manager for Adidas in the Middle East and North Africa (MENA) region, added: "This partnership is a testament to the shared values and vision of Sela and Adidas. Together, we aim to set new benchmarks for collaboration and deliver products and experiences that reflect the best of both brands.”

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Fares was appointed to the role of MENA general manager for Adidas in March 2022, and in January 2024 became a senior vice president for the company alongside the role, while also taking over the management of Ukraine, Central Asia, and the Caucasus, alongside the MENA role.

Sela, the PIF, and Adidas are already linked in several ways. Sela is currently the shirt sponsor of English Premier League soccer side Newcastle United, which is owned by the PIF.

In September 2023 it was revealed that Newcastle would be exiting its current shirt sponsorship deal with UK manufacturer Castore to join up with Adidas.

Furthermore, the Saudi Pro League, within which the PIF owns four teams, signed a deal earlier in January to make Adidas its official partner and ball supplier.

The latest deal with Sela indicates another deepening of ties between the Kingdom of Saudi Arabia and the German manufacturer.