The top men’s tennis tour is holding talks with Saudi Arabia’s sovereign wealth fund about possible co-investments, as the kingdom’s oil-funded capital continues to reshape the business of sport.

ATP Tour chair Andrea Gaudenzi said he had held “positive” discussions with the Public Investment Fund and other potential investors to back various sports projects and ventures, including infrastructure, technology investment and events in new markets.

Speaking just weeks after the US PGA Tour ended its resistance and reached a deal to work with the PIF which took the golf world by surprise, Gaudenzi however warned that outside investors must “stick to respecting the history of the sport and the product, working with the current stakeholder rather than against”.