Madrid (EFE).- Qatar Sports Investments (Premier Padel investment fund) has reached an agreement in principle with the Damm company to acquire World Padel Tour (WPT) and thus create from 2024 a single world professional circuit.
Damm sources confirmed this initial agreement to Efe with firm progress in the negotiations and assured that in 2023 the current circuit will remain as planned to date.
Damm and QSI began the first conversations in January 2023 with the aim of creating a unique world circuit, exploiting the enormous options offered by professional padel worldwide. After five months of intense work, both companies signed a MOU -Memorandum Of Understanding- (Memorandum of Understanding) last week, which already marks the start-up of a single circuit from 2024.
The agreement is not final, but both parties hope to reach a final agreement satisfactory to both organizations soon. Good news, as recognized by all those involved in the sector, since paddle tennis has experienced a ‘war’ in recent years for control of an emerging sport that is increasingly being followed around the world.
This principle of agreement marks the roadmap, prior to a final agreement between Qatar and the WPT, and until it is official, formal communication will not take place through a statement.
The entry Qatar reaches an agreement in principle with Damm to acquire World Padel Tour (WPT) was first published in EFE Noticias.