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DAZN Sells Minority Stake to Saudi Arabia’s Surj Sports Investment in Landmark $1 Billion Deal
Sports streamer DAZN has sold a minority stake to Saudi Arabia's Surj Sports Investment in landmark $1 billion deal
The long-gestating agreement — widely believed to involve PIF paying $1 billion in exchange for 10 per cent of DAZN — gives Saudi Arabia a piece of DAZN, which in the Middle East and North Africa (MENA) region rivals powerhouse beIN Sports, from neighboring Qatar. “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,” said Danny Townsend, CEO at Surj Sports Investment, in a statement. “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,” he added, noting that “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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