SURJ Sports Investment has agreed to take a minority stake in DAZN, which is likely to result in more Saudi-backed sports events appearing on the streaming service.
The move follows several months of speculation and denial.
SURJ Sports Investment, part of Saudi Arabia’s Public Investment Fund (PIF), was established in 2023 with a brief to drive international growth and enhance the sporting ecosystem in Saudi Arabia and the wider Middle East.
Financial details have not been disclosed, but PIF was recently said to be close to taking a $1bn stake in the London-based company.
Danny Townsend, CEO at SURJ Sports Investment, said: “DAZN has established itself as the global sports platform of choice, and this is a really exciting opportunity to build on DAZN’s significant successes in recent years by bringing more sports to fans and audiences around the world.
“SURJ supports the leadership of DAZN, and our partnership will accelerate the growth of DAZN and capitalize on the significant and growing demand for high-quality sports broadcasting.”
“This investment will 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, added: “DAZN is the only truly global entertainment platform dedicated to sport, which makes us ideally positioned to expand access to sports content globally from Saudi Arabia’s growing sports sector. As part of the DAZN MENA joint venture with SURJ, DAZN is committed to maximizing the reach and accessibility of sports, while delivering the best entertainment experience to a global community of passionate fans. This is a milestone partnership for the group, which is bound to transform the sports entertainment landscape in Saudi Arabia and the wider region.”
DAZN is owned by Access Industries, a New York-based private holding company founded by Ukrainian-born Sir Leonard Blavatnik in 1986. It was created in 2007 from the merger of Premium TV Limited and Inform Group
DAZN says it has 300 million regular viewers and is targeting an eventual one billion users.
