SURJ Sports Investment from Saudi Arabia is looking to acquire a minority stake in the EuroLeague basketball competition. Partnering with private equity firm General Atlantic, SURJ is part of a bid to purchase about a third of EuroLeague Commercial Assets, valued at €1 billion (US$1.11 billion).
SURJ, a venture from Saudi Arabia’s Public Investment Fund, is led by former A-Leagues CEO Danny Townsend. The firm has already invested over US$100 million in the Professional Fighters League (PFL) and is exploring investments in other sports, including a new cycling league and an ATP Masters 1000 event.
Competing against SURJ and General Atlantic is private equity group BC Partners, which has expanded its sports investments by acquiring a stake in GSE Worldwide, a sports representation agency.
The EuroLeague recently reported a 27% increase in TV audiences and a 19% rise in attendances for the 2023/24 season. Additionally, the league has introduced new financial fair play regulations, including a salary cap, to ensure financial sustainability and competitive balance.