EXTREME, a global pioneer of extreme and adventure sports since 1995, and Sumou Holdings (through its subsidiary, Fast Service) have today announced a joint venture in the Kingdom of Saudi Arabia to build an end to end events and arena business in the country.
Sumou Holdings, of the Kingdom of Saudi Arabia, is a world-class institutional investor that creates growth in business sectors strategically important to the local and global economy. EXTREME brings 25 years of sports, entertainment and leisure experience to the Kingdom. The partnership creates the stage for a unique world-class event and arena offering that encompasses everything from concept design, through to masterplanning, project management, infrastructure, staging, audio-visual setup, to artist and athlete bookings and event hospitality. Large and small scale sporting and music events, festivals, mass participation events, and unique spectacles will all form part of the offering.
EXTREME SAUDI will be bringing a number of leading global event brands to the country - including two Union Cycliste Internationale (UCI)-sanctioned cycling events (both a road race and a downhill mountain bike event) in the first quarter of 2020 - as well as exclusively supporting brands to enter Saudi Arabia for the first time. The arenas, which the joint venture will design, develop, build and operate across key cities in the Kingdom, will provide a platform for showcasing a whole range of exciting entertainment offerings.
To broaden the visitor base to the Kingdom and drive both local and global interest, EXTREME SAUDI will harness EXTREME’s brand, its digital media platforms and 128 sponsored athletes, with a combined reach of more than 100 million people globally on a monthly basis.
The long-term strategic partnership between EXTREME and Sumou Holdings will contribute to the economic diversification of the Kingdom of Saudi Arabia and support the 2030 Vision. This will enhance the country as a tourist destination and support its leisure and entertainment industries. Reinforced via world leading extreme and adventure sports events, the Kingdom will become synonymous with high-quality events and entertainment worldwide.
Alistair Gosling, Founder and Chief Executive of EXTREME and advisory board member of Qiddiya, said: “I am truly excited about this partnership and we are eager to share some of the incredible things planned. Sumou Holdings are the perfect partner for EXTREME and together we feel we can make a real difference and positive impact towards the 2030 Vision.”
Saeed Al Nahdi, Chief Executive Officer of Sumou Holdings, said: "Our partnership with EXTREME emphasises our long-term role in boosting tourism, creating jobs and diversifying the local economy."
Notes to Editors
CONTACT
EXTREME: Nicola Packer, COO and Head of Legal
nicola@extremeinternational.com | +971 (0) 55 989 5528
FAST SERVICE: Kamal AlMuhana, CEO of Fast Service
km@fastserviceco.com | +966 50 300 0563
ABOUT EXTREME:
EXTREME is an iconic lifestyle brand that encompasses sports, music and art. EXTREME’s mission is to inspire and engage through extreme and adventure sports. As creators of this uniquely-positioned global lifestyle brand and founders of The Extreme Sports Channel, EXTREME has been active globally for over 20 years and today operates and thrives across the following sectors:
1) Design, development and management of placemaking sports and leisure destinations.
2) Digital Media and Marketing Network, delivering engagement through creative campaigns
3) Sports and lifestyle event design, development and delivery alongside athlete activation.
Supporting over 125 ambassadors, activating over 80 events each year and with an average reach of 100 million video views and 30 million likes, shares and comments each month, our digital media network entertains our highly-engaged fan base. https://www.extremesportscompany.com/
ABOUT SUMOU:
Sumou Holding is a world-class institutional investor that creates growth in business sectors strategically important to the local and global economy. The firm was officially established in 2008, and has since earned a market reputation as a highly successful holding company headquartered in Saudi Arabia.
Sumou Holding Company brings together in capital, international expertise and local market knowledge to spur business growth in regional markets. We have experience in assembling consortiums of capital and talent, and mobilising investment vehicles in response to regional opportunities.
Our external expansion is being matched by continuous internal improvement. We are creating processes and frameworks on par with those of first-rate global investment institutions. An open-door policy has been initiated for potential investment partners, where we encourage innovative business ideas.