EXCLUSIVE-Saudi's SRJ in exclusive talks to invest about $270 mln in new cycling league -source

An investment firm owned by Saudi Arabia’s Public Investment Fund (PIF) has emerged as a frontrunner to back a new cycling league, three people familiar with the matter told Reuters, the latest move by the kingdom to buy into global sports.

SRJ Sports Investments, founded last year, is in exclusive negotiations over a potential circa 250 million euro ($270 million) investment in the venture being spearheaded by a number of major European cycling teams, one of the people said.