{"id":89757,"date":"2024-09-18T00:00:00","date_gmt":"2024-09-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/18\/pifs-surj-eyes-eur-1-bn-stake-in-euroleague\/"},"modified":"2024-09-18T00:00:00","modified_gmt":"2024-09-18T00:00:00","slug":"pifs-surj-eyes-eur-1-bn-stake-in-euroleague","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/18\/pifs-surj-eyes-eur-1-bn-stake-in-euroleague\/","title":{"rendered":"PIF\u2019s SURJ eyes EUR 1 bn stake in EuroLeague"},"content":{"rendered":"

PIF-owned <\/strong>SURJ<\/a><\/strong> Sports Investment<\/strong> is reportedly bidding for a EUR 1 bn <\/strong>minority stake in the EuroLeague<\/strong>, the Financial Times<\/a> reports, citing people familiar with the matter. EuroLeague Commercial Assets, the owner of EuroLeague and EuroCup Basketball, is looking to sell about a third of the business with talks reaching \u201cadvanced stages,\u201d the FT said. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Who else is in the running? <\/strong>SURJ may partner with private equity firm General Atlantic for its bid, putting it up against British investment firm BC Partners<\/a>. <\/p>\n

IN CONTEXT- <\/strong>The PIF, through SURJ, is focusing on expanding its sports investments, having previously invested USD 100 mn<\/a> in the Professional Fighters League and USD 270 mn in a new cycling league<\/a>, among other investments in golf and other sports. <\/p>\n

By the numbers: <\/strong>EuroLeague\u2019s television audience grew 27% y-o-y in the 2023-24 season, driven by gains in Turkey, Serbia, Greece, Spain, Lithuania, and Italy. Users of its online viewing platform grew 46% to 85k. However, it still lags behind its American counterpart, the NBA. <\/p>\n

ADVISORS-<\/strong> EuroLeague Commercial Assets is reported coordinating with investment bank LionTree on the stake sale, the Financial Times reports. <\/p>\n

An inflated market? <\/strong>Private equity firms have been jumping on investments in sports teams and leagues. The surge has led to \u201cmassively inflated\u201d valuations based on \u201cfacile notions\u201d about future growth, a separate FT report<\/a> cites founder of the private equity firm RedBird Capital Partners Gerry Cardinale as saying. <\/p>\n","protected":false},"excerpt":{"rendered":"

General Atlantic could join SURJ\u2019s bid to rival BC Partners<\/p>\n","protected":false},"author":1,"featured_media":89758,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[10,31,14,1151,8,3100],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam-ksa","tag-investment-watch","tag-ma-watch","tag-public-investment-fund-pif","tag-sports","tag-surj-sports-investment","wpautop","entry"],"acf":{"mongo_id":"151d49c3-7233-4fd4-8cc9-b3a63a565277","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1395.jpg","photo_position":"above","homepage_title":"","full_issue_title":"PIF\u2019s SURJ Sports Investment eyes EUR 1 bn minority stake in EuroLeague","related_issue":[89752],"teaser":"General Atlantic could join SURJ\u2019s bid to rival BC Partners","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.e727710a-2b95-442c-a0ce-0a7ce7725ca3.mp3"},"yoast_head":"\nPIF\u2019s SURJ eyes EUR 1 bn stake in EuroLeague - 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