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(Reuters) – A Saudi Arabia-backed sports investment fund is in discussions to invest in a new entity that World Athletics may establish to oversee the sport’s commercial rights, according to sources familiar with the matter.
World Athletics, the global governing body for track and field, has been exploring the creation of a dedicated company to manage these rights and attract external investment, sources said. Talks have reportedly been held with SURJ Sports Investments, a division of Saudi Arabia’s Public Investment Fund (PIF), regarding the potential acquisition of a stake in the entity. One source indicated that a deal could value the business at approximately £500 million ($635.95 million).
However, the sources, speaking on condition of anonymity, cautioned that discussions are ongoing and may not necessarily lead to a transaction.
A World Athletics spokesperson acknowledged in a statement that the organization has engaged with multiple parties regarding potential partnerships but declined to comment on SURJ’s involvement.
“We are delighted to be in this position even if not all discussions end in a partnership. Where partnerships are agreed, we announce them,” the spokesperson said.
SURJ Sports Investments declined to comment.
Saudi Arabia’s Expanding Sports Investments
Athletics is the latest sport to attract investment interest from Saudi-backed entities, following previous ventures in tennis, golf, and football.
Last month, SURJ Sports Investments acquired a minority stake in sports streaming platform DAZN. The fund has also explored potential investments in a new cycling league and a boxing league, though deals have yet to be finalized.
