Triathlon’s financial future relies on our race entries

The start of 2025 has been a reminder that while the pros might be important to organisations, it’s the amateurs who deliver the profits. 

The launch of the T100 series, the consolidation of supertri, plus World Triathlon, Ironman, Challenge and XTERRA… if you’re an elite triathlete looking for a platform for your talents, there’s never been more choice. 

But while some of these organisations have become more bullish about showcasing professionals – luring triathletes with contracts, increased prize money and bonus pool payments – the start of 2025 has underscored a long-held truth about the sport: as certain as death, taxes and Donald Trump’s tariffs, when it comes to swim, bike and run, participation is the only business model proven to work. 

The Professional Triathletes Organisation was going to be different. It will maintain its focus on the pros and has committed to paying out over $8 million to athletes in 2025, but there is a notable shift. While its flagship T100 World Tour is retained for 2025, several of the sport’s biggest names have opted not to take up contracts. Yes, it shows the continued allure of Ironman world titles – but also that the PTO’s investment is no longer focused solely on the elite. 

Shrinking prize pots

A recent rankings change also sees end-of-year prize money reduced from a $2 million pot to $560k. The homepage of the T100 website is another clue – dedicated to the amateur and attempting to entice them to one of seven locations, two short of the nine the pros will race at.

This is because the PTO doesn’t own the events in San Francisco and Valencia, so can’t offer age-group racing there. The age-group side is being turbocharged this year in an attempt to make 100km the distance of choice. It’s a format that, in partnership with World Triathlon, draws parallels with the established age-group representative racing we already have at shorter distances – except now, the 100km events serve as qualifiers for the final in Qatar. 

Premium entry fees

After initially offering some cut-price entries, T100 is now aiming at the premium end, with fees of up to $595. But it’s not just the PTO. Supertri started out as a pro-only exhibition on idyllic Hamilton Island near Australia’s Great Barrier Reef, but since the pandemic, it has steadily moved into mass participation. It recently acquired the Toronto Triathlon Festival and will hold its first Canadian event this summer as it tries to become the ‘global leader’ in short-course triathlon. It had already expanded its portfolio by acquiring two events in Texas, with its 2025 calendar now extended to six events – including stops in Chicago and Toulouse – and potentially more to come before the year is out. 

To complement that, there’s also supertri’s E-racing scene. At the London Aquatics Centre on the first weekend of April, several amateur waves featured alongside the pro races. While there’s the dangling carrot of a place in the Esports Olympics, its standardised formats allow for pool racing, turbos and treadmills to host simultaneous competition around the world. Ironman, of course, knows its business model. It has long put participation first – and often faced backlash for limiting professional prize money as a result. 

Participation not TV money pays the bills

The rise of the PTO has made it flex its financial muscle when supporting athletes who want to make a living from the sport, the launch of its Pro Series last year being a case in point. But don’t expect the M-Dot brand to take its eye off its bread and butter. Tune into any broadcast this summer and you’ll see the same familiar drive to push race sign-ups. 

The question is how much Ironman continues to invest in pros if the PTO’s efforts eventually falter. All of these organisations maintain that professionals form a key pillar of their business model. But the broadcast money just isn’t materialising, and the financial reality in tough economic times is this: the customer who pays to race matters more than the one watching from the couch.