Saudi Arabia’s Public Investment Fund (PIF) is said to be close to taking a minority stake in sports streaming service DAZN.
The sovereign wealth fund has been linked to Sir Len Blavatnik’s venture for over a year. The suggestion, reported by both Bloomberg and the New York Times, is that the fund would take a 10% investment for US$1 billion.
The fund has previously denied that it was preparing a financial involvement in the broadcaster.
DAZN already has ties to Saudi sports that include the Saudi Pro League, Saudi-backed tennis matches and boxing events.
Launched in 2007, is this year expected to break-even having previously accrued $5 billion in losses.
In December, DAZN announced it would be the broadcast partner for FIFA Club World Cup 2025, the inter-club competition backed by football’s governing body.
It has also announced plans to acquire Australian pay-TV broadcaster Foxtel from its majority shareholder News Corp and minority shareholder Telstra for US$2.2 billion.
