PIF’s SURJ Sports acquires minority stake in DAZN

The signing of the agreement

The Public Investment Fund’s (PIF) SURJ Sports Investments Co. signed an investment agreement to acquire a minority stake in global sports streaming platform DAZN.

DAZN owns broadcasting rights to the most exciting sports and top leagues from around the world.

For More Mergers and Acquisitions

Under the deal, SURJ and DAZN will work closely to establish DAZN MENA, a media-focused joint venture (JV) that is poised to “unlock new broadcasting opportunities for Saudi Arabia’s growing sports sector.” It will be an “official streaming and broadcast partner” for Saudi sports events broadcast both live and on-demand, according to a statement today, Feb. 17.

This “milestone” partnership will help maximize the reach and accessibility of Saudi sports and Saudi-based events to the more than 200 markets where DAZN operates.

Established in 2016, DAZN platform has more than 3,000 employees and achieved $3.2 billion revenues in 2023. Its annual revenues rose by 50% on average from 2020 to 2023, through diverse income sources, including subscriptions, ads, sponsorships, and more.