The Professional Triathletes Organization today announced that it has appointed Sam Renouf as its Chief Executive Officer and that it has sent a letter to the Board of Directors of The Wanda Sports Group proposing to enter into discussions to acquire its IRONMAN and related mass participation assets.
Renouf had previously been CEO of MOTIV Group and before that was part of the executive leadership team at ACTIVE Network, leading its global sports business. Charles Adamo, Chairman of the PTO, commented “Sam’s professional breadth and experience in triathlon and the mass participation industry makes him ideally suited to lead the PTO and its commercial endeavors. Sam has a great vision for the PTO’s potential and the skills and energy to realize it.”
A former elite triathlete from Great Britain, Renouf also served as a commentator for the 2012 Olympic Games in London. Rachel Joyce, Co-President of the PTO, stated, “As a former elite athlete who has transitioned into a sports executive, Sam is fully aware of the demands of our sport and his business experience will allow him to navigate triathlon’s sizable commercial potential.”
Renouf commented, “It is an honor to be joining the PTO. From my first meeting with its leadership team and its bankers, North Point Advisers, it became clear to me that they are uniquely positioned to unleash the value in our sport and take it to the next level both economically and in popularity.
“This is about the natural evolution towards athlete self-determination and the PTO is set to follow the well-trodden path of other sports like golf and tennis, where the professionals took on the responsibility to nurture and grow their sport, alongside other stakeholders. The time has come to end the era where over-leveraged investors exploit our community for short term gains.
“The PTO, working with our financial advisers and certain selected partners, will be able to operate in a manner that produces healthy investment returns, while at the same time developing our sport based on a solid, growing sustainable model. We have, therefore, sent a letter to the Board of Directors of Wanda Sports requesting that we begin discussions relating to the acquisition of its IRONMAN and mass participation business.
“We have every confidence that the PTO and its partners will succeed in this endeavor and look forward to the next chapter of the incredible sport of Triathlon.”