Saudi Arabia’s PIF seeks stake in DAZN sports streaming giant

Saudi Arabia’s Public Investment Fund (PIF) is exploring the acquisition of a significant minority stake in DAZN, a sports streaming service valued between $10 billion to $12 billion. Discussions have been ongoing for a potential $1 billion deal, which would provide PIF with a 10% stake in the platform. DAZN, which has rights to broadcast major European football leagues, is seeking additional funding to bolster its global sports portfolio. The deal would deepen Saudi Arabia’s already substantial investments in global sports, which include Formula 1, golf, and football.

If successful, PIF’s involvement would further strengthen Saudi Arabia’s influence in European sports broadcasting. DAZN, a major partner for football leagues such as Italy's Serie A, Spain's LaLiga, and Germany's Bundesliga, offers global streaming access to premium sports content. This move could be another landmark for PIF, which already owns English Premier League club Newcastle United and several Saudi Pro League teams.

DAZN has attracted interest from multiple investors recently, reflecting its growing role in the global sports media landscape. Its revenues grew 41% to $2.1 billion in 2022, supported by its premium streaming rights to domestic football leagues like Bundesliga and Serie A. However, it faces challenges from rising sports rights costs, which led to operating losses exceeding $1 billion. Securing fresh investment could help DAZN expand further and navigate financial pressures.