As much as ten million dollars: that’s what PTO can count on now that it has managed to secure investment company Cordillera Investment Partners. The American investment company has estimated assets of around $1.5 billion, so in that respect, the ten million dollars invested in the PTO can be seen as a negligible risk.
Cordillera Investment Partners typically invests in companies that operate within ‘niche markets’ and from that perspective has an interest in the triathlon world. “The Professional Triathletes Organisation is a prime example of an emerging league in a corner of the sports universe that is growing in popularity and fandom,” said Cordillera Investment Partners Co-Founder Agustin Araya. Cordillera Investment Partners previous investments have included sports media rights, whiskey, boat marinas, carbon credits, and other niche sectors.
Sam Renouf, CEO at the PTO, explained that the PTO is still fully committed to growing the sport of triathlon, but especially the sport as a media product. “Football, the NFL and tennis have been multibillion-dollar sports for a long time. Triathlon has really been in the dark ages from a commercial and broadcast perspective. Professional triathletes have seen the rise of our sport but the growth at the pro end hasn’t necessarily tracked the participation growth”, is a painful conclusion.
The fact that the PTO itself has been unable to get the promised calendars done for years is not mentioned.
