Saudi Arabia is expanding its sports investment strategy with the creation of a new infrastructure-focused company.
SURJ Sports Investment, the sports arm of Saudi Arabia’s Public Investment Fund (PIF), has partnered with investment firm Oak and live entertainment giant Live Nation to launch Radia.
The new company will support the development of sports infrastructure across Saudi Arabia through venue management, operations, activations and commercialisation.
Radia will operate as an integrated services platform covering the full lifecycle of sports venues and complexes — from initial design review and operational planning to development oversight, day-to-day operations and commercial strategy.
The company will also focus on strategic partnerships, digital and data-driven capabilities, enhanced fan experiences and sustainable venue solutions.
“This partnership marks a fundamental milestone in the mission of both PIF and SURJ to build a future-ready sports sector in Saudi Arabia — one that delivers results today while creating a lasting legacy for generations to come,” said Danny Townsend, CEO of SURJ Sports Investment.
John Reid, President of Live Nation for Europe, the Middle East and Africa, said the partnership further strengthened the company’s long-term commitment to Saudi Arabia, where it has been investing and operating since 2017.
Xavier Campbell appointed CEO
The new joint venture will be led by Australian sports executive Xavier Campbell, who has been appointed CEO.
Campbell will oversee Radia’s market entry strategy and long-term growth plans.
The company’s launch comes as Saudi Arabia continues to accelerate investment in sports infrastructure ahead of several major projects and events.
The country will host the 2034 FIFA World Cup, while the PIF-backed Al-Qiddiya project is being developed as a mega-city focused on entertainment, sport and culture.
The project is expected to have a budget of approximately €34.5 billion.
PIF balances infrastructure investment with divestment
Radia’s creation comes at an interesting moment for PIF, which has recently pursued a strategy of reducing its exposure to certain assets.
The Saudi sovereign wealth fund recently exited LIV Golf, the breakaway golf circuit it helped finance from its creation in 2022.
In April, PIF also sold a 70 per cent stake in Al Hilal, one of the four Saudi Pro League clubs acquired by the fund in 2023, to Kingdom Holding Company.
The fund is also seeking minority investors to help finance a new stadium project for Newcastle United, of which it remains the majority owner.
The launch of Radia underlines a broader shift in Saudi Arabia’s sports strategy. PIF is no longer simply investing in clubs, leagues and sporting events. It is increasingly building the infrastructure, venues and commercial ecosystem that will underpin the country’s ambition to become a global sports hub.