Saudi Arabia is set to increase its strategy of investing in international sports brand following reports that the Public Investment Fund (PIF) is considering acquiring a share in the Hundred, the UK’s cricket league.

The Hundred is a one-day cricket format launched by the England and Wales Cricket Board (ECB) in 2021.

According to a report by The Times newspaper, the PIF is set to bankroll the addition of a ninth team to the franchise that will be based in Durham in the Northeast of England.

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The move follows the ECB’s decision to attract more private investment into the Hundred by selling shares of up to 49% in each team with the ECB retaining the majority share.

There are no financial details as yet of what would be Saudi Arabia’s first foray into cricket.

The PIF has been a prolific investor in other sports though, having bought English Premiership football club Newcastle United and started its own golf franchise in recent years.