PTO CEO Sam Renouf on the Challenge Acquisition, the Future of the Sport and Profitable T100 Races

It’s hardly news to any triathlon fans that the triathlon world has undergone major change over the last decade. Since the Professional Triathletes Organisation (PTO) started putting on events, though, there’s never been a better time to be a professional long-distance triathlete. The PTO’s series forced IRONMAN to create the IRONMAN Pro Series, which has been a resounding success with large numbers of pro athletes clamouring to get into the various races.

The PTO’s T100 Triathlon World Tour has been constantly evolving, too. Last year we saw the implementation of separate men’s and women’s races (except for the Grand Final) to streamline the event coverage, and this year the series won’t be offering pro contracts. Age group racing is becoming more and more important to the T100 series, too. Last year, across the nine T100 races, almost 30,000 athletes took part in the various triathlon and “shoulder” events.

The acquisition of Challenge Family emphasizes the importance of age group racing to the PTO. We caught up with PTO CEO Sam Renouf to get more detail on the addition of Challenge Family events to the Triathlon World Tour (set to start in 2027) and how the PTO looks to grow the sport globally.

It will come as no surprise that Renouf’s comments present a very optimistic picture of both the current scene and future possibilities for the tour.

What did the PTO acquire?

The majority of Challenge Family races are independent entities that are licensed by the series. So, what does that mean for the PTO? 

“Many of the events are licensed, but not all of them are,” Renouf explained. “Some events are directly operated, while many others operate under licenses.”

“The licensing structure is actually similar to how World Triathlon operates many of its events,” Renouf continued. “And, actually, it’s very similar to what exists with the World Triathlon deal that we’ve already announced. So, in fact, World Triathlon is even more extreme in that almost all of those events are delivered through, basically, a license. So, it’s just bringing together more races under the consistent banner of the Triathlon World Tour when it launches.”

What the acquisition actually includes

The acquisition wasn’t just about races—it included several key assets.

“What do we get with the acquisition? We get a brand, we get a database, we get IP that’s existed for 23 years that’s related to Challenge Family,” Renouf said. “There’s a very capable team with some wonderful people … that have worked all the way around the world that are either employees or very long-term contractors.”

The strategy behind the move

The acquisition fits into the PTO’s broader strategy to build a large global race calendar.

“For us, from a strategic perspective, I’m sure it was probably fairly obvious to most people in the industry that it was coming when we announced in December that we were going to 100 events and we’re going to create a Challenger Series,” Renouf said.

“I think it’s excitement overall about bringing the community together,” Renouf continued. “If you’re a licensee, sort of the strength of your brand or your event is based on what the licensor has given you. We have a lot more resources by nature of all of the investment we’ve raised and the team that we’ve built.”

A key requirement: broadcast coverage

A major pillar of the new system is media coverage – the vision includes three core components.

“All Triathlon World Tour events will be broadcast,” Renouf said. “You will have pro racing, you will have age group racing, and you will have broadcast. Those three pieces are very fundamental, and that’s what we will be working on getting into all of the events. That creates a massive marketing platform for us to promote the sport, and then, ultimately, to promote the athletes and the story line.”

Where the money comes from

A natural question arises about how all of this will be funded.

“What will really surprise people to hear is that the T100 is actually very close to being break even already,” Renouf said. “It’s a combination of age group racing, corporate sponsorship and hosting fees.”

While I expressed skepticism on that front (the PTO has been on an ongoing fundraising drive over the years and, despite the pro changes – split races and no contracts this year – still seems a ways from being able to generate profits), Renouf argues that the economics of live coverage have changed dramatically over the years.

“The difference in technology on broadcast that exists today, and is continuing to change on an almost a daily basis, is worlds ahead,” he said. “The cost of doing this is dramatically lower even than when we started.”

Bringing fragmented rights together

The PTO believes triathlon has been too fragmented.

“Triathlon’s an amazing sport with an incredibly valuable audience … but it’s totally fragmented from a rights perspective,” Renouf said. “By bringing those rights together… selling 100 events is a much stronger commercial proposition.”

How the Triathlon World Tour differs from IRONMAN

Eventually, the conversation turns to the obvious comparison.

“For a start, this is bringing short course racing and long course racing together into a product,” Renouf said. “We love the fact that IRONMAN has created the Pro Series. We’re saying 17 races is great — we’re going to do that with 100.”

Ultimately, the PTO doesn’t see IRONMAN as the main competitor.

“We’re competing with people’s disposable time,” Renouf said. “We’re competing with golf and tennis and Formula One. Triathlon can go mainstream. If triathlon focuses on competing with each other as a sport…triathlon will stay small as a little niche sport. We’re not doing this to stay as a niche sport.”

“We’re going from essentially what will probably be 10 races this year to the best part of 80, maybe even 85 next year,” Renouf concluded. “It’s a big lift that we’re all going through, but an exciting time to be doing it.”

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