Reuters: PIF considers buying a stake in sports broadcaster DAZN for $1 billion

Reuters quoted two informed sources as saying that Saudi Arabia’s Public Investment Fund is among potential bidders considering buying a minority stake of about $1 billion in DAZN, a sports broadcasting platform backed by billionaire Len Blavatnik.

If successful, the deal would give the fund greater influence in the field of European football, especially in light of DAZN’s partnership with broadcasting the first division leagues in Italy, Spain, Germany and France.

The two sources added that the fund is considering investing about $1 billion in exchange for buying a stake of about 10% in DAZN, which is headquartered in London. One of them confirmed that the discussions between the fund and DAZN have been taking place since late last year but have not made progress, warning that the completion of the deal is not certain.

A third informed source said that DAZN has been in talks with at least three investment funds for months regarding several strategic partnerships, and that it is also seeking to determine their total value between $10 billion and $12 billion in any potential agreement. Dazn, which competes with traditional TV and satellite channels, offers a variety of sports content, including American football, boxing and baseball, through its online streaming platform.

In September, Dazn secured the rights to a new exhibition tennis tournament featuring Novak Djokovic and Rafael Nadal in Riyadh later this month.

Dazn’s website said it also broadcasts the Saudi Professional League in several regions and the Riyadh Season boxing series.

Dazn’s latest results showed its revenue jumped 41% to $2.1 billion in 2022 amid higher subscription prices and the acquisition of the rights to broadcast the German and Italian top divisions on its platform.