Saudi Arabia’s SURJ Sports Investment is to acquire a minority stake in sports streamer DAZN.
SURJ is the sports investment arm of Saudi Arabia’s sovereign wealth fund PIF, and is reported to be investing $1bn in DAZN.
As part of the agreement, SURJ and DAZN will launch DAZN MENA, a joint venture that will help broaden fan’s access to live and on-demand sports content.
In a statement, SURJ said that DAZN provides it with an official streaming and broadcast partner for both live and on-demand content to showcase Saudi sport and Saudi-based events to a global audience. DAZN is available in more than 200 markets worldwide.
Under Crown Prince Mohammed Bin Salman, Saudi Arabia has invested heavily in sport to help diversify its economy, soften its image and attract tourists. It is set to be the home of the FIFA World Cup 2034.
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.
Shay Segev, CEO of DAZN, added: “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.”
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