By Nash Seman
In a move that could reshape the world of endurance sports, SURJ Sports, the investment arm of Saudi Arabia’s Public Investment Fund (PIF), is reportedly in discussions to pour significant capital into the Professional Triathletes Organisation (PTO), the group behind the Michael Moritz-backed T100 Triathlon World Tour. Sources familiar with the matter, who preferred to remain anonymous due to the private nature of the talks, suggest a deal could be finalized in the coming weeks, though the exact investment amount remains under wraps.
The PTO, founded with the bold ambition of elevating triathlon to mainstream status, has been steadily gaining traction since its inception. Its flagship T100 Triathlon World Tour, launched last year, features grueling yet spectator-friendly races covering 100 kilometers: a 2 km swim, an 80 km bike ride, and an 18 km run. By blending athletic prowess with a format designed to captivate audiences, the PTO is betting big on making triathlon a household name, much like marathons or Formula 1.
Michael Moritz, the billionaire venture capitalist famed for early bets on tech giants like Google, LinkedIn, and PayPal during his tenure at Sequoia Capital, was the PTO’s first major backer in 2020. His involvement lent the organization instant credibility, signaling that triathlon could be more than a niche sport for fitness fanatics. Since then, the PTO has attracted a diverse roster of investors, including San Francisco’s Cordillera Investment Partners, which injected $10 million in March, alongside Warner Bros. Discovery and health-tech-focused firms Divergent Investments and Eckuity.
SURJ Sports’ interest in the PTO aligns with Saudi Arabia’s broader strategy to diversify its economy through high-profile investments in global sports. The PIF, one of the world’s largest sovereign wealth funds, has been aggressively expanding its sports portfolio as part of the kingdom’s Vision 2030 initiative. Beyond its well-publicized forays into soccer and golf, SURJ has been exploring less conventional arenas. In May, it partnered to bring the viral seven-a-side Kings League football tournament to the Middle East. It also committed $100 million to the Professional Fighters League, signaling a willingness to back emerging sports with global potential.
For the PTO, a partnership with SURJ could provide the financial muscle to scale the T100 series, expand its global footprint, and attract top-tier talent. The influx of Saudi capital could also accelerate efforts to professionalize triathlon, from enhanced media production to larger prize purses, making the sport more lucrative for athletes and appealing to fans.
The PTO isn’t alone in its quest to revolutionize triathlon. London-based Supertri, another rising player in the space, is reportedly seeking $60 million to fuel its own expansion, focusing on spectator-friendly courses and a pro league format. This competitive landscape underscores the growing appetite for endurance sports, as investors see untapped potential in a discipline that combines raw athleticism with cinematic drama.
Still, the PTO’s head start—bolstered by Moritz’s early backing and a growing roster of influential investors—positions it as a frontrunner. The T100 series has already carved out a unique identity, with races designed to balance accessibility for viewers and relentless challenges for competitors. If SURJ’s investment comes through, it could cement the PTO’s lead in this burgeoning market.
Neither SURJ nor the PTO has commented publicly on the talks, but the potential partnership is already generating buzz in sports and investment circles. For Saudi Arabia, it’s another step toward becoming a global sports powerhouse, leveraging its financial clout to shape emerging markets. For the PTO, it’s a chance to take triathlon to new heights, transforming a once-niche sport into a global spectacle. As the deal nears completion, all eyes will be on how the PTO deploys this capital to grow the T100 series and whether it can capture the imagination of a broader audience. In a world where sports and entertainment increasingly intersect, the PTO’s vision of a mainstream triathlon revolution might just be within reach.
