Saudi-Backed SRJ Sports Investments in talks for new cycling league

According to Reuters, Saudi Arabia's SRJ Sports Investments is purportedly in exclusive talks to spend roughly €250 million (US$268.8 million) in a new cycling league.

SRJ, supported by the Gulf state's Public Investment Fund (PIF), has emerged as the preferred investor, outbidding competitors such as private equity firm CVC Capital Partners in a recent auction. The commercial parts of the purchase are anticipated to be finalised with SRJ over the next two months.

If successful, SRJ will collaborate with top European cycling teams like Ineos Grenadiers and Visma-Lease a Bike to establish the new tournament. The league intends to create a more sustainable circuit for the sport while raising teams' share of race income.

This would be Saudi Arabia's first major stake in cycling, following investments in football, racing, and martial arts.






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