Investor Surj from Saudi Arabia spends additional resources, securing a $20 million share in triathlon involvement
The sports investment arm of Saudi Arabia's Public Investment Fund (PIF), Surj Sports Investment, is in advanced talks to invest approximately $20 million into the Professional Triathletes Organisation (PTO), the body that organises professional triathlons globally. This potential deal is expected to be announced imminently as part of a broader funding round for the PTO.
The investment from Surj Sports Investment would be an addition to the previously announced $10 million stake taken by Cordillera Investment Partners earlier this year. Other notable PTO investors include Warner Bros. Discovery and Sir Michael Moritz, a veteran in the technology industry.
Surj Sports Investment, formerly known as SRJ, also holds stakes in other sports entities such as the Professional Fighters League and the sports streaming platform DAZN. The PTO's fundraising efforts have been supported by London-based advisory firm Oakvale Capital since last year.
The PTO, under the leadership of Sam Renouf, a former British international athlete who was appointed as chief executive in 2019, has embarked on a significant commercial overhaul to capitalise on growing sponsor and broadcast interest. The organisation has secured substantial sponsorship deals with companies including Canyon and Garmin, the luxury watchmaker.
The next race in the PTO's T100 Triathlon World Tour series is due to be staged in London next month. This year's tour consists of nine races, with the World Championship Final scheduled to take place in Qatar in December.
Professional triathlons consist of a 2km swim, 80km bike-ride, and 18km run. The PTO's mission is to grow the sport and provide a platform for professional triathletes to compete at the highest level.
Despite requests for comment, both the PTO and Surj Sports Investment did not respond on Wednesday. However, a source in the Middle East suggested that an announcement could be made as part of a wider PTO funding round soon.
[1] - References to original bullet points 1, 2, 3, 6, 7, 10, 11, 12.
In the midst of the ongoing fundraising round, Surj Sports Investment, known for its involvement in sports entities like the Professional Fighters League and DAZN, is reportedly considering a $20 million investment in the Professional Triathletes Organisation (PTO). This potential move by Surj Sports Investment follows the previously announced $10 million investment by Cordillera Investment Partners and the involvement of others, such as Warner Bros. Discovery and Sir Michael Moritz, in the PTO.
