Saudi Public Investment Fund nearing $1bn stake in Dazn
Saudi Arabia’s Public Investment Fund is nearing a $1bn acquisition of a small minority stake in sport streaming platform Dazn.
The London-based rights holder, which enjoys relationships with boxing’s Riyadh Season and a number of the top European football leagues, could potentially see its value pushed into the tens of billions after the injection.
It would mark a further aligning of Saudi Arabian investment vehicles to the heart of global sport, with the kingdom set to host the 2034 Fifa World Cup after acquiring over 900 sports sponsorship deals across the sector.
The deal is understood to be close, with the Public Investment Fund’s sports arm SURJ Sports Investment representing the potential minority investors.
The broadcaster revealed in January last year that losses still neared $1bn for 2023 and the year prior delayed IPO plans in a sustainability push.
The move would allow Dazn to expand their operations, which include the Saudi Arabia Six Kings Slam, the Women’s Champions League, and the NFL Game Pass International.
The Public Investment Fund could then use the deal in association with a number of its assets, including the LIV Golf League and Newcastle United.
A spokesperson for the Public Investment Fund said in October: “PIF is not currently engaged in discussions with Dazn on this matter and has no current plans to invest in the company.”