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PIF’s $1bn Dazn deal creates new Mena sports streamer

By Neil Halligan
Dazn PIF Saudi sports Alamy/James Moy
Dazn TV presenter Melissa Jimenez Dionisio with Formula One driver Fernando Alonso. The PIF-backed network will broadcast live sport from Saudi Arabia
  • Potential rival to Qatar’s Bein Sports
  • Saudi sports will be shown
  • Small minority stake acquired

Surj Sports Investment, a unit of Saudi’s Public Investment Fund (PIF), has acquired a minority stake in UK-based global sports network Dazn. 

The deal, believed to be worth $1 billion, will establish new broadcasting joint venture Dazn Mena, which the companies say will broadcast live and on-demand sports from Saudi Arabia.

The partnership will also capitalise “on the significant growth in demand for high-quality sports broadcasting,” the companies said – a signal that Dazn Mena could rival Qatari broadcasting giant Bein Sports.

Danny Townsend, CEO at Surj Sports Investment, said the investment would help Surj “achieve its mandate of driving fan engagement, encouraging sports participation and unlocking game-changing opportunities, and further showcasing the region as a destination for world-class sports.”

Shay Segev, CEO of Dazn, said the joint venture “is committed to maximising the reach and accessibility of sports”.

Financial details of the agreement haven’t been released but the Financial Times said a “single-digit” minority stake is involved.

Dazn currently shows the Saudi Pro League in several territories and the Riyadh Season series of boxing matches, which included the recent heavyweight bouts between Oleksandr Usyk and Tyson Fury.

Saudi Arabia’s investment in sports now extends to more than 900 deals. PIF also owns a majority stake in MBC, which it bought in November.

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