Latest news with #sportsinvestment
Zawya
3 days ago
- Business
- Zawya
SURJ Sports Investment announces strategic onvestment in Professional Triathletes Organisation
Investment to fuel PTO's global expansion and mass participation strategy, including planned growth in Saudi Arabia and the wider MENA region Partnership reflects SURJ's commitment to building new platforms that empower athletes, inspire fans, and promote active lifestyles Riyadh: SURJ Sports Investment has today announced its investment in the Professional Triathletes Organisation (PTO) as part of the organisation's Series C funding round, alongside founding investor Sir Michael Moritz, Cordillera Investment Partners and Verance Capital. The funding will support the PTO's continued international growth at both elite and mass participation levels, plus innovation in race formats and long-term athlete and fan engagement. 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. The partnership reflects Saudi Arabia's growing demand for inclusive, mass participation sport in line with the ambitions of Vision 2030. Between 2022 and 2024, national triathlon participation rose by 24%, supported by a 6,000% increase in viewership. In 2024 alone, six mass participation events were staged across the country, drawing thousands of new entrants and expanding access to sport for communities nationwide. Globally, the partnership aligns with the broader push for gender equality in endurance sport. The T100 Tour features equal representation of male and female professional athletes and provides new competitive platforms designed to elevate women across the global triathlon landscape. Danny Townsend, CEO of SURJ Sports Investment, said: 'The PTO is redefining endurance sport for modern audiences – blending elite racing with inclusive, mass participation formats, global storytelling and community engagement. 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. I saw the power of the platform first-hand at the 2024 finale in Dubai – and it's clear the T100 Tour is just getting started.' SURJ Sports Investment was established in 2023 to develop a world-class sports sector in Saudi Arabia and beyond, through strategic investments in leading rights holders and high-growth enablers across the global sports ecosystem. Sir Michael Moritz, who led the Series A round and has remained a key supporter through Series B and now Series C, continues to double down on the PTO's long-term potential. Speaking to media following the T100 World Championship Final in Dubai last year – the culmination of the Tour's first full season – he reflected on what drew him to the sport five years ago: 'The reason for my original investment was simple. I thought triathlon was a niche sport that, with a dose of creativity and imagination along with the explosion of online video channels, could be transformed into a compelling spectator sport and a much more attractive proposition for everyday participants. The excitement that has built around T100 demonstrates that we're well on the way to doing so.' 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. Sam Renouf, CEO of the PTO, added: 'We're delighted to welcome SURJ and Verance Capital to the PTO investor family. This is a major milestone not only for us as an organisation, but for the broader vision of triathlon's future. Our goal has always been to reimagine the sport for modern audiences and open up participation to athletes of all levels. With new partners like SURJ and Cordillera, we're better equipped than ever to scale our ambitions globally. The momentum from our record-breaking Singapore event is just the beginning of what we hope to achieve in 2025 and beyond.' The Series C investment comes at a time of rapid growth for the PTO. In 2024, the organisation launched the T100 Triathlon World Tour, a reimagined endurance series featuring the world's top 20 male and female triathletes, competing alongside amateur athletes in major global cities including Singapore, San Francisco, London, Ibiza, Lake Las Vegas, and Dubai. In 2025, the T100 Tour has expanded from seven to nine races. It returned to Singapore (5–6 April), where 7,000 amateur participants took part in a mix of triathlon and duathlon events — as well as an untimed 5km music run designed to attract first-time participants. Other races include San Francisco (31 May–1 June), Vancouver (13–15 June), London (9–10 August), France (30-31 August), Valencia (20 September), Wollongong (18 October), Dubai (15–16 November), and Qatar (12–13 December), which will host the first Qatar T100 Triathlon World Championship Final as part of a new five-year partnership with Visit Qatar. For Further Information: Anthony Scammell E: Norah Binkhathllan: nbinkhathllan@ About Professional Triathletes Organisation (PTO) The PTO is a sports body that is co-owned by its professional athletes, seeking to elevate and grow the sport of triathlon and take it to the next level. Its T100 Triathlon World Tour was introduced in January 2024 and is designated by World Triathlon as the 'official World Championship for long distance triathlon', which is part of a 12-year strategic partnership with the sport's international governing body. The T100 Triathlon World Tour is a season-long schedule of World Championship level races competed over 100km (2km swim, 80km bike and 18km run), where the world's best triathletes go head-to-head in iconic locations on a global broadcast showing the races live around the world in 195+ territories, courtesy of the PTO's partnership with Warner Bros. Discovery as well as a range of other international, regional and local broadcasters. In 2025 these will include: Singapore (5-6 April), San Francisco (31 May-1 June), Vancouver (13-15 June), London (9-10 August), France (30-31 August), Valencia (20 September), Wollongong (18 October), Dubai (15-16 November) and Qatar (12-13 December) for the first Qatar T100 Triathlon World Championship Final. T100 weekends are 'festivals of multisport' and feature a range of opportunities for amateur athletes of all levels to get involved. From experienced amateurs tackling the 100km distance to first-time swim, bike and run participants taking on single discipline, untimed events. For more information visit About SURJ Sports Investment SURJ (/Surge/) Sports Investment, a PIF company, is fueling the growth of international sport through strategic investments with global and local resonance. Its mandate centers on investing in global rights holders and key enablers in the global sports ecosystem – investments that will generate long-term returns, empower sports and sports-adjacent businesses to innovate and reach new audiences and create new experiences. SURJ Sports Investment is unlocking game-changing opportunities, inspiring the next generation of talent and fans in Saudi Arabia, the wider MENA region and beyond. For more about SURJ Sports Investment, visit
Yahoo
19-07-2025
- Business
- Yahoo
Six Nations rugby courts Gulf sovereign wealth
The Six Nations Championship is being lined up for new investment as part of a multibillion-pound attempt to cash in on the global growth of sport. The private equity giant CVC Capital has called in bankers to review options for its sporting portfolio, which include stakes in Europe's top rugby competition, Spanish and French top-flight football and women's tennis. A full squad of bankers from Goldman Sachs and the boutique advisers PJT Partners and Raine Group have been called up to help package up the disparate collection of sports and examine opportunities for refinancing and more acquisitions. The collection of assets, being brought together under an umbrella company with the working title SportsCo, is also being prepared for refinancing. City sources said the plans could include the sale of minority stakes in the overall business, which is valued at more than £10bn. CVC has appointed Marc Allera, the former head of BT's consumer division, to spearhead the discussions as chairman of SportsCo. The private equity firm is said to believe its portfolio could attract investment from Gulf sovereign wealth funds or fellow heavyweight buyout specialists. It is understood that a string of meetings have been lined up in the coming months with bankers hopeful of securing investment before the end of the year. No decisions on the final financial structure of SportsCo have been made, however. Private equity in sport The moves are designed to capitalise on booming global investor interest in sport, a field in which CVC has been a private equity pioneer. The firm enjoyed major success with its investment in Formula 1, which delivered billions in profit with a sale in 2016. The gains drove CVC's confidence in further sporting ventures in rugby and football. However, the relative complexity of club ownership and governance structures in these competitions has made it harder to make the swift operational and financial improvements on which private equity typically depends to deliver returns. CVC's £1.3bn investment in a 13pc stake in France's Ligue de Football Professionnel has been particularly problematic. A seemingly lucrative television rights deal with the streaming operator Dazn descended into acrimony, and then CVC's Paris offices were raided over allegations of corruption in its investment deal. The firm denies any wrongdoing. Its sports expansion also met with bad luck. CVC's 2018 investment in English top-flight club rugby was predicated on significant increases in revenue from grounds and television rights. Those assumptions proved particularly heroic when the pandemic struck and at one stage came close to making the Premiership bankrupt. SportsCo is being designed to allow CVC to refinance its portfolio and return money to its own investors while retaining control beyond the typical five to seven-year term of private equity ownership. The new vehicle will be responsible for senior appointments in the sports leagues in which it holds stakes and could seek to co-ordinate television rights discussions in an increasingly globalised market in which the likes of Netflix and Apple are expected to play a growing role. It comes at a time when private equity firms are generally struggling to cash in on investments made under very different conditions. Some 15 years of rock-bottom interest rates after the financial crisis delivered hundreds of billions of dollars into funds as investors hunted returns. Flush with cash, buyout firms ventured into riskier businesses and paid higher prices. Now, with debt more expensive and valuations depressed, some are struggling to return cash to their investors and being forced to seek innovative ways to deliver returns. CVC declined to comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-07-2025
- Business
- Yahoo
Pacific-Aust 'commonality' important in uncertain times
Anthony Albanese has hailed the importance of personal relationships with Pacific nations at a time when other powers are seeking to increase their influence. The prime minister, who will host Fijian counterpart Sitiveni Rabuka when the Wallabies take on Fiji in their one-off Rugby Union Test in Newcastle on Sunday, reiterated the importance of soft diplomacy in the region. "Relationships between nations essentially come down to relationships between people," he told ABC Radio on Saturday. "It is a great way in which our nations can show our commonality. We are all members of the Pacific family." Australia has provided $10 million over seven years for the Fijian Drua women's and men's teams in the Super Rugby Pacific and Australia Super W competitions. Some $600 million over a decade for a PNG NRL team had also cemented the relationship between the two neighbouring nations, Mr Albanese said. He said investments in sports were linked with education and economic development, resulting in better health outcomes and stronger, more secure and smarter Pacific populations. At a time when the United States is pulling away and China and Russia are trying to increase their influence, the prime minister stressed the importance of positioning Australia as the partner of choice. "We have a considerable defence and security presence throughout the Pacific and that's very much, in these uncertain times, in Australia's interests," he said. "One of the ways that we cement that is through those personal relations." Mr Albanese was keen to highlight Australia's upgraded defence and security relationships with Fiji, PNG, Tuvalu, Nauru and other smaller nations in the Pacific. "We are family and we assist each other as friends, not with strings attached," he said. "What we do is we help each other out because of our common interests and our common values." Mr Rabuka met with Governor-General Sam Mostyn at Government House in Canberra earlier this week. In a keynote address at the National Press Club on Wednesday, he spoke glowingly of bilateral ties between Suva and Canberra in a deteriorating world. "Unfortunately for now, I contest the region's outlook is more uncertain than at any time since Fiji's independence in 1970," he said. "Perhaps we have reached a point in our Fiji-Australia relationship where a renewed and elevated Vuvale partnership needs a further step-up to an agreement for a treaty."
Sky News
02-07-2025
- Business
- Sky News
Saudi sports investor Surj goes extra mile for $20m triathlon stake
The sports investment arm of Saudi Arabia's sovereign wealth fund is buying a stake in the body which organises professional triathlons around the world. Sky News has learnt that Surj Sports Investment is in advanced talks about a deal to inject roughly $20m into the Professional Triathletes Organisation (PTO). A deal could be unveiled as part of a wider PTO funding round imminently, a source in the Midde East said on Wednesday. It will be the latest investment from Surj, which also owns stakes in the Professional Fighters League and the sports streaming platform DAZN. Previously known as SRJ, Surj is a subsidiary of Saudi's Public Investment Fund (PIF), which owns a controlling stake in Newcastle United Football Club. Surj's investment will come in addition to previously announced funding from Cordillera Investment Partners, which took a $10m stake earlier this year. Other investors in the PTO include the media behemoth Warner Brothers Discovery and Sir Michael Moritz, the technology industry veteran. Sky News reported on the triathlon body's plans to raise capital in the spring of last year. It has been working with Oakvale Capital, a London-based advisory firm, on the fundraising since then. This year's T100 Triathlon World Tour consists of nine races, with the next due to be staged in London next month. The World Championship Final will take place in Qatar in December. The PTO, which is partly owned by athletes, has embarked on a significant commercial overhaul in a bid to capitalise on growing sponsor and broadcast interest from around the world. In December 2022, it announced a fundraising - said to have brought in more than $30m - led by Divergent Investments, a private equity firm. As part of its efforts to accelerate the commercialisation of the sport, the PTO recruited Chris Kermode, the former Association of Tennis Professionals boss, as its chairman. "This is an exciting opportunity to modernise a sport and give these ultimate endurance athletes the opportunity to showcase their extraordinary talents, while being rewarded appropriately," Mr Kermode said at the time of the previous fundraising. Most frequently watched in Britain during the summer Olympic Games, professional triathlons consist of a 2km swim, 80km bike-ride and 18km run. The PTO is run by Sam Renouf, a former British international athlete, who was appointed as chief executive in 2019. Since then, it has secured substantial sponsorship deals with companies including Canyon and Garmin, the luxury watchmaker.
Yahoo
26-06-2025
- Business
- Yahoo
Rosenblatt Reiterates 'Buy' Rating for Atlanta Braves (BATRK) on Revenue Growth Drivers
Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) is one of the 11 best performing Warren Buffett stocks in 2025. On June 20, Rosenblatt Securities reiterated its 'Buy' rating for the Atlanta Braves stock and increased its price target to $69 from $52. A customer data analyst working at a computer, surrounded by monitors displaying live sports data. The update comes from analyst Barton Crockett, who highlighted the Atlanta Braves' loyal and engaged fan base as a significant asset. Crockett also anticipates the company's revenue will keep growing. Several drivers will make this happen, including robust performance in ticket revenue, solid media rights agreements, ongoing success in securing sponsorships, and the continued monetization of The Battery Atlanta. The Battery Atlanta is a mixed-use development adjacent to Truist Park. Crockett's report also acknowledges the Atlanta Braves' strategic initiatives to enhance the overall fan experience and drive sustained financial growth. Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) is a sports and entertainment company. Through its subsidiary Braves Holdings, LLC, it owns and operates the Atlanta Braves Major League Baseball team and its home stadium, Truist Park. The company has two segments: Baseball and Mixed-Use Development. In addition to baseball operations, it manages The Battery Atlanta. While we acknowledge the potential of BATRK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
