Saudi PIF-backed SURJ completes significant DAZN investment
PIF-owned sports investment company SURJ Sports Investment (SURJ) has agreed to acquire a minority stake in DAZN.
Launched in 2023, SURJ Sports Investment is mandated ‘to invest in sports to drive international growth while enhancing the sporting ecosystem in Saudi Arabia and the wider Middle East.’
As well as direct investment into sport SURJ has described its strategy as extending to ‘broadcasting, digital platforms, grassroots programmes, and fan engagement initiatives’.
SURJ and DAZN will work closely to establish DAZN MENA, a joint venture that aims to ‘unlock new broadcasting opportunities for Saudi Arabia’s growing sports sector and accelerate fans’ access to live and on-demand sports content’.
Although no figures have been disclosed, The Athletic reports that it is thought DAZN founder Sir Len Blavatnik has sold less than 10% of the sports streamer to SURJ for $1bn.
The news comes after a PIF spokesperson denied it had plans to invest in DAZN in October.
But now, PIF looks sure to strengthen its position in sport following years of significant investment in the likes of football, golf, and boxing.
The deal will also see DAZN become SURJ’s official streaming and broadcast partner for both live and on-demand content.
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.”
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