Saudi Arabia’s PIF reportedly seeks ‘$1bn’ investment in DAZN
Saudi Arabia’s Public Investment Fund (PIF) is interested in acquiring a $1bn (£760m), 10% minority stake in DAZN, according to Reuters.
The report says that the London-based streaming giant has held talks with at least three separate investment funds regarding potential strategic partnerships.
Reuters reports that DAZN is eyeing a deal that values the company at between $10bn and $12bn (£7.6bn and £9.2bn).
The PIF’s sports investment portfolio includes Premier League club Newcastle United, as well as LIV Golf, the Women’s Tennis Association (WTA), and Saudi Pro League teams Al Hilal, Al Ahli, Al Ittihad and Al Nassr.
Despite generating revenue of $2.19bn (£1.6m) for 2022, marking a 41% on the previous year, DAZN reported an operating loss of $1.06bn (£809m).
Meanwhile, DAZN has revealed a multi-year partnership that will see the platform become the exclusive global broadcaster of Riyadh Season, and the co-exclusive broadcaster across the Middle East and North Africa (MENA).
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