The Saudi Public Investment Fund’s SURJ Sports Investment is selling a €1 billion minority stake in the EuroLeague, a prominent European basketball competition.
Reports indicate that the firm may invest alongside private equity company General Atlantic. Other contenders include British investment firm BC Partners, which recently acquired a stake in sports agency GSE Worldwide.
EuroLeague Commercial Assets, owner of EuroLeague and EuroCup Basketball, plans to sell about one-third of its business. The group is negotiating with American boutique investment bank LionTree to facilitate this stake sale.
Established in August 2023, SURJ Sports Investment focuses on high-growth potential assets in Saudi Arabia and the MENA region.