Latest news with #DannyTownsend
CNBC
3 days ago
- Business
- CNBC
Saudi Arabia's SURJ invests in Pro Triathletes
CNBC spoke to Danny Townsend, CEO of SURJ about how investments into entities like the PTO play into the company's strategy and Saudi Arabia's Vision 2030.
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
Triathlon-PTO announces investment by Saudi Arabia-backed sports fund
The Professional Triathletes Organisation and World Triathlon jointly launched the 'T100' race series last year. (PTO pic) LONDON : The Professional Triathletes Organisation (PTO), a governing body which organises professional triathlons around the world, said today that it had secured investment from Saudi Arabia-backed sports fund SURJ. Sources close to the deal valued it at around US$40 million. 'The funding will support the PTO's continued international growth, innovation in race formats, and long-term athlete and fan engagement,' the PTO said in a statement. 'It will also help accelerate the PTO's expansion into the MENA region, with Saudi Arabia a likely future host market for its flagship T100 Triathlon World Tour. 'Today's announcement follows a US$10 million investment from Cordillera Investment Partners in March 2025 and builds on previous rounds led by Divergent Investments, Warner Bros Discovery, and health-focused venture fund Eckuity,' it said. The PTO and governing body World Triathlon jointly launched the 'T100' race series last year, which features races comprising a 2km swim, 80km bike and 18km run. The series is made up of eight races and a final, which will take place in Qatar later this year. 'The PTO is redefining endurance sport for modern audiences – blending elite racing with inclusive, mass participation formats, global storytelling and community engagement,' SURJ CEO Danny Townsend said in a statement. 'We're proud to support this next phase of growth and to explore how the model can inspire more people across the region to get active,' he said. SURJ Sports Investments, a unit of Saudi Arabia's Public Investment Fund (PIF), in February said it had bought a minority stake in sports streaming platform DAZN. Reuters reported in March that SURJ was considering investing in a new body which World Athletics may potentially set up to manage the sport's commercial rights. Women's rights activists and members of the LGBTQ community have accused Saudi Arabia of 'sports-washing' and criticise the country's human rights record, even as it pumps huge amounts of money into sports including soccer, Formula One, tennis and golf. The country denies accusations of human rights abuses and says that it protects its national security through its laws.
The Star
4 days ago
- Business
- The Star
Triathlon-PTO announces investment by Saudi Arabia-backed sports fund
(Reuters) -The Professional Triathletes Organisation (PTO), a governing body which organises professional triathlons around the world, said on Monday that it had secured investment from Saudi Arabia-backed sports fund SURJ. Sources close to the deal valued it at around $40 million. "The funding will support the PTO's continued international growth, innovation in race formats, and long-term athlete and fan engagement," the PTO said in a statement. "It will also help accelerate the PTO's expansion into the MENA region, with Saudi Arabia a likely future host market for its flagship T100 Triathlon World Tour. "Today's announcement follows a $10 million investment from Cordillera Investment Partners in March 2025 and builds on previous rounds led by Divergent Investments, Warner Bros. Discovery, and health-focused venture fund Eckuity." The PTO and governing body World Triathlon jointly launched the "T100" race series last year, which features races comprising a 2km swim, 80km bike and 18km run. The series is made up of eight races and a final, which will take place in Qatar later this year. "The PTO is redefining endurance sport for modern audiences – blending elite racing with inclusive, mass participation formats, global storytelling and community engagement," SURJ CEO Danny Townsend said in a statement. "We're proud to support this next phase of growth and to explore how the model can inspire more people across the region to get active." SURJ Sports Investments, a unit of Saudi Arabia's Public Investment Fund (PIF), in February said it had bought a minority stake in sports streaming platform DAZN. Reuters reported in March that SURJ was considering investing in a new body which World Athletics may potentially set up to manage the sport's commercial rights. Women's rights activists and members of the LGBTQ community have accused Saudi Arabia of "sports-washing" and criticise the country's human rights record, even as it pumps huge amounts of money into sports including soccer, Formula One, tennis and golf. The country denies accusations of human rights abuses and says that it protects its national security through its laws. (Reporting by Mitch Phillips in London, additional reporting by Aadi Nair in Bengaluru, editing by Ed Osmond)
Sydney Morning Herald
14-06-2025
- Sport
- Sydney Morning Herald
Deeply flawed, highly problematic ... but FIFA's Club World Cup is well worth your time
It also features Infantino's name on it. Not once, but twice, which tells you a fair bit about not only him, but this tournament, his vanity project, the latest missive in the ongoing cold war between FIFA and UEFA. There are more problems. It is being broadcast globally by DAZN (in Australia, Kayo Sports, since they own it now) - and that in itself is not a problem, but no other broadcasters were particularly interested, and they paid $1 billion for the rights, which appears to be massive overs. And the money has come from SURJ Sports Investments, a fund (whose chief executive is Danny Townsend, the former A-Leagues boss) which is tied to Saudi Arabia's Public Investment Fund. And that deal seems to have been part of a quid pro quo for FIFA to give the 2034 World Cup rights to Saudi Arabia. It will also be held in the United States, who are also co-hosting next year's World Cup, against the backdrop of riots, impending war and general Trump-related volatility - and empty seats. Fan interest for most games has been scarce, so FIFA has had to dramatically drop their initially ambitious ticket prices. And then there's the timing, at the end of the season, the first since UEFA's competitions have been expanded, at a time when clubs and tired players say they have been pushed beyond breaking point. Forcing it upon them is hardly going to make them take it seriously. And then there's the prize money. All up, there is a total prize pool of US$1 billion on offer, awarded on a sliding scale - just for turning up, Auckland City will pocket US$3.58 million. Teams from Asia, Africa and North and Central America will get nearly US$10 million. Critics argue that giving such huge sums of money to those clubs - remember, Auckland City play in an amateur competition - will throw domestic leagues around the world out of balance financially. Although it doesn't seem to be bothering those from Europe, who are licking their lips at being awarded up to US$80 million for winning the thing - and, reportedly, are talking to FIFA about expanding the next tournament to 48 teams, just like the World Cup. The other one. For countries. But if you can get past all that ... maybe this is worth a look? If enormous bundles of cash are what it will take to get European clubs invested in this, then maybe that's just what it takes. Because for all the caveats, the Club World Cup could be really good for football. It has the potential to share the love. Famous clubs like Egypt's Al Ahly, Japan's Urawa Red Diamonds, Brazil's Flamengo and Fluminense, Argentina's River Plate and Boca Juniors, and yes, Auckland City too - they all get the chance to compete on equal terms, for something real, with the likes of Chelsea, Bayern, Juventus, Real Madrid, Manchester City and the rest. That's a good thing. It's good that The Athletic is running long pieces about the Mamelodi Sundowns, having embedded a journalist with the South African club for four days. Loading It's good that fans in Europe might learn something about club football in the rest of the world, for once. So they should. You will be told to roll your eyes and ignore. This thing is far from perfect, and in some ways is deeply problematic. But there will be some good football played, if you're into that sort of thing. Somewhere along the line, there will probably be a massive upset. It will be the highlight of so many players, coaches and fans' footballing lives. There is a lot of baggage, and it is painful to acknowledge that Infantino may have come up with a good idea.
The Age
14-06-2025
- Sport
- The Age
Deeply flawed, highly problematic ... but FIFA's Club World Cup is well worth your time
It also features Infantino's name on it. Not once, but twice, which tells you a fair bit about not only him, but this tournament, his vanity project, the latest missive in the ongoing cold war between FIFA and UEFA. There are more problems. It is being broadcast globally by DAZN (in Australia, Kayo Sports, since they own it now) - and that in itself is not a problem, but no other broadcasters were particularly interested, and they paid $1 billion for the rights, which appears to be massive overs. And the money has come from SURJ Sports Investments, a fund (whose chief executive is Danny Townsend, the former A-Leagues boss) which is tied to Saudi Arabia's Public Investment Fund. And that deal seems to have been part of a quid pro quo for FIFA to give the 2034 World Cup rights to Saudi Arabia. It will also be held in the United States, who are also co-hosting next year's World Cup, against the backdrop of riots, impending war and general Trump-related volatility - and empty seats. Fan interest for most games has been scarce, so FIFA has had to dramatically drop their initially ambitious ticket prices. And then there's the timing, at the end of the season, the first since UEFA's competitions have been expanded, at a time when clubs and tired players say they have been pushed beyond breaking point. Forcing it upon them is hardly going to make them take it seriously. And then there's the prize money. All up, there is a total prize pool of US$1 billion on offer, awarded on a sliding scale - just for turning up, Auckland City will pocket US$3.58 million. Teams from Asia, Africa and North and Central America will get nearly US$10 million. Critics argue that giving such huge sums of money to those clubs - remember, Auckland City play in an amateur competition - will throw domestic leagues around the world out of balance financially. Although it doesn't seem to be bothering those from Europe, who are licking their lips at being awarded up to US$80 million for winning the thing - and, reportedly, are talking to FIFA about expanding the next tournament to 48 teams, just like the World Cup. The other one. For countries. But if you can get past all that ... maybe this is worth a look? If enormous bundles of cash are what it will take to get European clubs invested in this, then maybe that's just what it takes. Because for all the caveats, the Club World Cup could be really good for football. It has the potential to share the love. Famous clubs like Egypt's Al Ahly, Japan's Urawa Red Diamonds, Brazil's Flamengo and Fluminense, Argentina's River Plate and Boca Juniors, and yes, Auckland City too - they all get the chance to compete on equal terms, for something real, with the likes of Chelsea, Bayern, Juventus, Real Madrid, Manchester City and the rest. That's a good thing. It's good that The Athletic is running long pieces about the Mamelodi Sundowns, having embedded a journalist with the South African club for four days. Loading It's good that fans in Europe might learn something about club football in the rest of the world, for once. So they should. You will be told to roll your eyes and ignore. This thing is far from perfect, and in some ways is deeply problematic. But there will be some good football played, if you're into that sort of thing. Somewhere along the line, there will probably be a massive upset. It will be the highlight of so many players, coaches and fans' footballing lives. There is a lot of baggage, and it is painful to acknowledge that Infantino may have come up with a good idea.
