A partnership will deepen Saudi Arabia's ties with DAZN, which already streams the Saudi Pro League, Saudi-funded boxing and the Six Kings Slam tennis event.
Saudi Arabia’s Public Investment Fund (PIF) is reportedly nearing a deal to acquire a minority stake in sports streaming service DAZN, potentially granting the kingdom a significant foothold in the global sports broadcasting market.
The move, facilitated through SURJ, a private investment firm owned by PIF, could see Saudi Arabia take up to a 10% stake in DAZN, according to reports from Bloomberg and The New York Times.
Reports of a potential $1bn investment have circulated since October, with initial discussions about acquiring a 10% stake taking place in late 2023.
The investment could potentially propel the streaming platform’s valuation into the tens of billions.
Saudi Arabia has already deepened ties with DAZN in recent years, with the platform serving as a hub for the Saudi Pro League, tennis tournaments and elite boxing events. The acquisition of a stake in DAZN will align with the kingdom’s broader ambitions to establish itself as a global sports powerhouse, enhancing its geopolitical and economic influence in the sector.
The deal would enable DAZN to expand its operations, which currently include broadcasting events such as the Saudi Arabia Six Kings Slam, the Women’s Champions League and the NFL Game Pass International.
For the Public Investment Fund (PIF), the partnership could complement its existing sports-related assets, including the LIV Golf League and Newcastle United.
