Saudi Arabian firm SURJ Sports Investment has agreed to buy a minority stake in DAZN.
The deal will establish DAZN as an official streaming and broadcast partner for both live and on-demand content for Saudi sporting events.
Following a long-winded saga, SURJ – launched in 2023 as part of the country’s Public Investment Fund (PIF) – will also now work with the broadcaster to create joint venture DAZN MENA (Middle East and North Africa).
In October last year, the plans seemed extremely unlikely after a PIF spokesman denied it had plans to invest in DAZN, telling Reuters the fund was “not currently engaged in discussions with DAZN” and it had “no current plans to invest in the company”.
Shay Segev, CEO of DAZN, commented on the deal: “As part of the DAZN MENA joint venture with SURJ, DAZN is committed to maximising 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.”
DAZN streams more than 90,000 live events annually and is available in over 200 markets globally.
It is a home of European football, women’s football, boxing and MMA, and also features top sports and leagues from around the world including Serie A, LALIGA, Ligue 1, Formula 1 and the NBA.
Furthermore, Danny Townsend, SURJ CEO, said that the company would “invest in the service providers of the industry that are going to form the future of how fans engage with the sport more broadly”.
“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,” he added.
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