Reports from Bloomberg and the New York Times indicate that Saudi Arabia’s Public Investment Fund (PIF) is on the verge of acquiring a minority stake in the sports streaming service DAZN. This deal, rumored to be a 10% investment valued at US$1 billion, follows over a year of speculation linking the sovereign wealth fund to Sir Len Blavatnik’s venture. The PIF had previously denied any plans for financial involvement in DAZN.
DAZN already enjoys strong ties to Saudi sports, broadcasting events such as the Saudi Pro League, Saudi-backed tennis matches, and boxing events. Launched in 2007, DAZN is projected to reach break-even this year, a significant achievement following US$5 billion in accumulated losses. The company recently announced its role as the broadcast partner for the FIFA Club World Cup 2025 and is pursuing the acquisition of Australian pay-TV broadcaster Foxtel from News Corp and Telstra for US$2.2 billion.