SURJ Sports Investment, a company of the Public Investment Fund, has launched a joint venture named 'Radia' in partnership with Live Nation and Oak View Group to manage, operate, and market sports and entertainment facilities and venues in the Kingdom, a move aimed at supporting the sports sector's infrastructure.

The new platform will provide services for managing and operating sports facilities, marketing, content provision, as well as consulting services, in line with the expansion in building stadiums, halls, and sports complexes, and the Kingdom's readiness to host more sports and entertainment events.

According to the company's statement, Radia's services will cover various stages of sports facility development, from design and planning, through development supervision, to operation and marketing, providing an integrated model for managing sports and entertainment facilities.

The platform will also rely on digital solutions and data analytics to improve operational efficiency and enhance the audience experience, with a focus on facility sustainability and turning them into destinations capable of generating commercial returns.

Zavier Campbell will serve as CEO of Radia, leading the company's operations and implementing its growth strategy in the coming period.

Support for Sports Infrastructure

The partnership comes within the framework of SURJ's strategy aimed at developing the value chain in the sports sector, by enhancing capabilities in managing and operating sports facilities, and supporting the live events and entertainment ecosystem in the Kingdom.

Danny Townsend, CEO of SURJ Sports Investment, said that the project represents a step to support the growth of the sports sector and develop infrastructure, contributing to enhancing the Kingdom's readiness to host global events and tournaments.

John Reid, Chairman of Live Nation in Europe, the Middle East and Africa, explained that the company will contribute its expertise in operating facilities and organizing events, aiming to develop facilities and experiences that meet the needs of athletes, artists, and audiences, and support the long-term growth of the events sector.

Boosting the Sports Sector

Chris Granger, CEO of Oak View Group, said that sports and entertainment facilities contribute to stimulating economic activity, creating job opportunities, and attracting tourism, in addition to their role in supporting local development, expressing the group's aspiration to develop facilities that enhance the Kingdom's standing on the global stage.

The launch of Radia comes within the Public Investment Fund's directions to develop the sports and entertainment sectors, which represent one of the strategic sectors in the fund's tourism, travel, and entertainment portfolio for the period 2026-2030.

Estimates indicate that the value of the sports sector in the Kingdom may exceed 82 billion riyals ($22 billion) by 2030, supported by investments in infrastructure and hosting international sports tournaments and events.