Saudi-Backed Surj Sports Set to Invest $20M in Professional Triathletes Organisation
July 3, 2025
Saudi Arabia’s growing influence in the global sports ecosystem continues to expand, with its sports investment vehicle Surj Sports Investment on the cusp of injecting $20 million into the Professional Triathletes Organisation (PTO)—the international body that oversees the professional triathlon circuit.
iSportConnect understands the deal is part of a broader funding round for the PTO, and could be formally announced in the coming days. The transaction, being finalized with support from Middle East-based advisors, is expected to significantly bolster the PTO’s global expansion and commercial ambitions.
Previously operating as SRJ Sports, Surj is a subsidiary of Saudi Arabia’s Public Investment Fund (PIF). Its portfolio already includes strategic stakes in the Professional Fighters League (PFL) and sports streaming platform DAZN, as part of Saudi Arabia’s Vision 2030 agenda to diversify its economy and enhance its global presence in sport and entertainment.
The new investment will build on a $10 million funding round earlier this year led by Cordillera Investment Partners, and follows previous capital injections from Divergent Investments, Warner Bros. Discovery, and Silicon Valley veteran Sir Michael Moritz.
The PTO, founded in 2019 and partly owned by professional athletes themselves, has made a concerted push to professionalise and commercialise the sport of triathlon. Under the leadership of CEO Sam Renouf—a former elite British triathlete—the organisation has secured global broadcast partnerships and premium brand sponsors including Canyon and Garmin.
The PTO’s T100 Triathlon World Tour, its flagship elite series, features nine marquee races across major global cities. The next leg is scheduled for London in August, with the season culminating in a World Championship Final in Qatar in December—a move that signals alignment with Middle East sporting ambitions.
To help scale operations and commercial strategy, the PTO brought in Chris Kermode, former ATP Tour Executive Chairman and President, as Chairman in late 2022. “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,” Kermode noted during the last funding announcement.
The sport of triathlon, while traditionally peaking in public interest during the Olympic Games, is being reimagined by the PTO into a year-round, commercially viable product. Its race formats—featuring a 2km swim, 80km cycle, and 18km run—are designed to appeal to both elite athletes and broadcast audiences with high-impact storytelling and athlete-first narratives.
The investment from Surj is expected to unlock operational efficiencies, enhance athlete compensation, and fuel digital and media innovation across the PTO’s platform. The move also fits into a broader trend of strategic capital flowing into emerging sports properties that offer strong global appeal, gender equity, and Olympic alignment.
With the latest injection of capital and a maturing commercial roadmap, the PTO appears poised to cement triathlon’s place on the global sports investment radar—offering a fresh, data-rich, athlete-owned model that resonates with modern fans and investors alike.