Saudi-Backed Investment Eyes World Athletics Commercial Revamp

A Saudi Arabian fund is considering purchasing a stake in a potential new entity controlling World Athletics' commercial rights, part of the sport's governing body's attempt to attract investments and innovate amidst competition from other sports. Talks with SURJ Sports Investments are ongoing but not finalized.

A Saudi Arabia-backed investment fund is evaluating a significant stake in a prospective organization that could manage World Athletics' commercial rights. According to insider sources, discussions regarding this strategic move are still in progress but remain tentative.

World Athletics is contemplating setting up a company to streamline rights management and boost revenue by attracting new investors. The potential agreement with SURJ Sports Investments, a subsidiary of Saudi Arabia's Public Investment Fund, might value the new business at approximately 500 million pounds. However, negotiations are ongoing, and no final decision has been reached.

This interest from Saudi-backed entities comes amidst a broader effort to innovate and capture new audiences, as highlighted by recent developments like Michael Johnson's Grand Slam Track competition and Mo Farah's RunGP series. The move underscores World Athletics' desire to remain relevant and financially robust, bolstering the sport's appeal with high-profile events and significant prize offerings.

(With inputs from agencies.)