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FILE IMAGE: A Saudi money changer displays Saudi Riyal banknotes at a currency exchange shop in Riyadh, Saudi Arabia July 27, 2017. Image used for illustrative purpose. Faisal Al Nasser
Saudi Arabia’s Public Investment Fund (PIF) has purchased a minority stake in the British sports and entertainment platform DAZN, months after denying it was in talks with the streaming group backed by billionaire Len Blavatnik.
The PIF investment is spearheaded through its sports investment arm SURJ, which was launched in 2023 with the mandate to drive the kingdom’s growth in the sporting ecosystem.
Financial details of the deal have not been disclosed.
The deal will establish DAZN as an official streaming and broadcast partner for both live and on-demand content for Saudi sporting events.
The agreement will also see the creation of a joint venture, DAZN MENA, with the aim to drive sports investments into the kingdom, the companies said in a joint statement.
(Writing by Bindu Rai, editing by Seban Scaria)
