Saudi Sports Arm Eyes $1 Billion Stake in Dazn to Boost Broadcasting Reach

SURJ Sports Investment, the sports investment unit of Saudi Arabia’s $925 billion Public Investment Fund (PIF), is in advanced talks to invest at least $1 billion in billionaire Len Blavatnik’s streaming service Dazn Group, according to people familiar with the matter.
The potential deal, which could be announced as soon as this month, would see SURJ Sports Investment acquire a stake in Dazn, a leading player in live sports broadcasting, the people said, asking not to be identified as the discussions are private. The final terms are still under negotiation and could change, the people added.
Dazn holds broadcasting rights for several top-tier football leagues in Europe, including Ligue 1, France’s premier professional football league. It also broadcasts Formula One racing and other major sporting events in key European markets. This summer, Dazn secured the main broadcasting rights for the FIFA Club World Cup.
As part of the discussions, SURJ and Dazn are expected to collaborate on promoting and broadcasting Saudi Pro League games, aligning with the kingdom’s efforts to elevate its domestic football industry under the Vision 2030 reform plan, the people said.
Saudi Arabia’s Pro League has attracted global attention following a spending spree exceeding $1 billion, bringing marquee players such as Cristiano Ronaldo, Neymar, and Karim Benzema to the league.
SURJ is being advised by Citigroup Inc., while Dazn is working with independent financial adviser Kacy Grine, the people said.