Agreement could see Surj Sports Investment take up to 10% stake in broadcaster
Saudi Arabian national wealth fund Surj Sports Investment is reportedly close to investing $1 billion (£820m) in DAZN.
According to the New York Times, this could see the wealth fund take a 10% stake in the broadcaster. The agreement could also result in DAZN broadcasting content from Saudi Arabian events for free.
DAZN has historically posted large losses, and is bankrolled by billionaire Len Blavatnik. Its current accounts are overdue on Companies House, but for 2022 it lost $1.25 billion (£1.02bn), down from $2.33 billion (£1.91bn) in 2021.
This hasn’t stopped DAZN from spending, recently agreeing to buy Australian broadcaster Foxtel for £1.7 billion. It also acquired the rights to FIFA’s the Club World Cup for a reported $1 billion, which it has announced it will air for free. FIFA and Saudi Arabia have grown close ties recently, with the nation awarded the 2034 men’s World Cup.
No comments yet