The fund is considering investing in a new body that World Athletics may set up to manage its commercial rights, Reuters has reported.
SURJ Sports Investment, a unit of Saudi Arabia’s Public Investment Fund (PIF), has reportedly held talks with World Athletics about the possibility of buying a stake in a new entity that the sport’s governing body may establish to manage its commercial rights, according to a Reuters report. One of the sources said a deal could value the new business at £500 million (€595.3M). The sources spoke on condition of anonymity, said Reuters.
A spokesperson for World Athletics confirmed to Reuters that the sport’s governing body did hold discussions with organizations and financial institutions interested in partnering, but declined to comment on SURJ’s interest.
In mid-February, SURJ Sports Investment agreed to acquire a minority stake in sports streaming platform DAZN, available in more than 200 markets. As part of this agreement, SURJ and DAZN will collaborate on the creation of DAZN MENA, a joint venture to unlock new broadcasting opportunities for Saudi Arabia’s sports sector.
Launched in 2023, SURJ Sports Investment invests in sports to enhance the sporting ecosystem in Saudi Arabia and the wider Middle East.
