Riyadh - Sharikat Mubasher: SURJ Sports Investments, wholly owned by the Public Investment Fund (PIF), is in talks to invest in the organizers of the Michael Moritz-backed T100 Triathlon World Tour to grow the series.

The deal with the Professional Triathletes Organization (PTO) is expected to be closed within the coming weeks, people familiar with the matter told Bloomberg.

The PTO professionalizes triathlons as a sport and brings swim-bike-run competitions into the mainstream. In 2024, it launched the T100 Triathlon World Tour, in which each T100 event covered a total distance of 100 kilometers.

PTO investors include Cordillera Investment Partners, Warner Bros Discovery, Divergent Investments, and Eckuity.

In 2023, the PIF established SURJ Sports Investments to accelerate the growth of the sports sector in Saudi Arabia and MENA. The company has been investing in several sports outside the traditional targets of football and golf in recent years as part of Saudi Arabia’s broad economic diversification and investment strategy.