Surj reiterates sports commitments following PIF’s partial retreat
Surj Sports Investment has reiterated its commitment to its stakes in ATP tennis, T100 triathlon and broadcaster Dazn in the wake of cuts to some Saudi-backed events.
LIV Golf has been rocked by the withdrawal of further financial support from the Public Investment Fund, while Saudi Arabia has also axed snooker and flag football competitions.
Surj, a subsidiary of PIF, indicated that its focus on delivering lasting impact in Saudi means it is insulated from the sovereign wealth fund’s recent strategic pivot.
“Surj’s approach has always been deliberate and long‑term,” said Surj CEO Danny Townsend.
“Our mandate is to invest in global sports IP that delivers clear local benefit – strengthening Saudi Arabia’s sports ecosystem through sustainable growth, participation, talent development, and long‑term sector capability.
“Today, we actively manage a diverse portfolio spanning different audiences and formats, including PFL [Professional Fighters League], Dazn, T100, ATP Masters 1000, and Kings League among other sports industry service providers, while remaining disciplined in how and when we deploy capital.
“That discipline ensures every investment aligns with our localization and impact objectives, supports the Kingdom’s wider tourism and entertainment ambitions, and creates enduring value – not just near‑term activity.”
Surj-backed PTO adds Sokin as partner
While some of the most high-profile Saudi investments in sport – LIV Golf, Newcastle United, Riyadh Season’s blockbuster boxing shows – have a large overseas footprint, Surj has always had more of a domestic focus.
Its partnership with the ATP is to establish a new Masters 1000 event in Saudi Arabia from 2028, while its $1bn investment in Dazn involves setting up an Arabic-first service in MENA.
Last year it led a fresh funding round by the Professional Triathletes Organisation in its T100 Tour with a view to increasing the country’s footprint in the sport.
It comes as the PTO today announced a new commercial deal with Manchester United and British and Irish Lions sponsor Sokin.
Sokin will become the T100 tour’s official global business payments partner and title partner of the pro T100 races in San Francisco and the legendary amateur race, Escape From Alcatraz Triathlon, in June.
The three-year deal is also set to see Sokin partner on the new Triathlon World Tour, a collaboration between the PTO and World Triathlon comprising around 80 events, when it launches next year.