Saudi Arabia's SURJ Sports Investment acquires minority stake in DAZN
Saudi Arabia's SURJ Sports Investments, a Public Investment Fund company, announced on Monday that it acquired a minority stake in sports entertainment platform, DAZN, in a partnership aimed at making world-class sports rights available globally.
Financial details of the deal haven't been announced, but the partnership will provide mutual access to global and Saudi sports alike.
For more Saudi sports news, visit our dedicated page.
DAZN streams over 90,000 live events annually and is available in more than 200 markets worldwide. It is home of European football, women's football, boxing and MMA. It features the biggest sports and leagues from around the world including Serie A, LALIGA, Ligue 1, Formula 1, NBA including FIFA Club World Cup 2025.
'DAZN provides SURJ with an official streaming and broadcast partner for both live and on-demand content to showcase the best of Saudi sport and Saudi-based events to a global audience,' the statement said.
The PIF company was launched in 2023 and is mandated to invest in sports to drive international growth while enhancing the sporting ecosystem in Saudi Arabia and wider Middle East.
The announcement comes at a time when the Kingdom has established itself as a major sports destination, hosting some of the world's top sports and becoming home to global superstars. It also comes after Saudi Arabia was announced as the host of the 2034 World Cup.
The agreement will also lead to the establishment of DAZN MENA, a joint venture aimed at unlocking new broadcasting opportunities for Saudi Arabia's sports sector and that looks at accelerating fans' access to live and on-demand sports content.
'The partnership aims to strengthen Saudi Arabia as a leading market for sports investments, while capitalizing on the significant growth in demand for high-quality sports broadcasting,' the statement added.
SURJ CEO Danny Townsend said that the investment with DAZN will support SURJ's goals and will further showcase 'the region as a destination for world-class sports.'
Shay Segev, CEO of DAZN, said that the 'this is a milestone partnership for the group, which is bound to transform the sports entertainment landscape in Saudi Arabia and the wider region.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saudi Gazette
3 hours ago
- Saudi Gazette
Port of NEOM receives Saudi Arabia's first automated cranes ahead of 2026 launch
NEOM — Port of NEOM has taken a major step toward becoming one of the world's most advanced and sustainable trade hubs with the arrival of Saudi Arabia's first fully automated, remote-controlled cranes. The milestone supports NEOM's plan to open Terminal 1 by 2026 and reinforces the port's strategic role on the Red Sea's East–West global trade route. The Ship-To-Shore (STS) and Electric Rubber-Tyred Gantry (eRTG) cranes are now operational at Port of NEOM. These next-generation machines will boost port automation, enabling high-volume container operations managed from secure remote stations, marking a shift toward a future-ready logistics workforce. Sean Kelly, Managing Director of Port of NEOM, described the achievement as a 'tangible milestone' for the region's industrial and trade ecosystem. 'We're not only accelerating industrial growth in northwest Saudi Arabia, but we're also setting a new benchmark for performance, efficiency, and innovation,' he said. The port's infrastructure build-out is progressing rapidly, including the completion of a 900-meter quay wall and deepening of the access channel to 18.5 meters—capable of accommodating the world's largest vessels transiting through the Suez Canal. Terminal 1 will feature fully automated container transport systems, increasing port efficiency and enhancing supply chain resilience across Saudi Arabia and beyond. The automation rollout is matched by investments in workforce development. A specialized training program for remote crane operators is currently underway, with ten participants — many from the local Tabuk region — undergoing a two-year course in technical operations, including Saudi women stepping into high-tech logistics roles. — SG
Leaders
6 hours ago
- Leaders
Preview: Saudi Arabia Clash with Bahrain in Pivotal World Cup Qualifier
Continuing their journey to the 2026 World Cup, Saudi Arabia resume their Asian qualifying campaign with a crucial match against Bahrain in Group C ninth round at the Bahrain National Stadium on Thursday. The Green Falcons must surpass second-placed Australia to secure a spot in next year's finals. With only two games left, the stakes are incredibly high for both teams. Bahrain, on the other hand, need points to finish within the top four. Saudi Arabia currently sit third in the group table, trailing Australia by three points. Australia occupy the second automatic World Cup spot, making this match pivotal. The team's recent inconsistency, with one win, three draws, and a defeat to Indonesia, has complicated their campaign. Recent Performances and Key Challenges Saudi Arabia's qualifying campaign has seen mixed results, yet they remain hopeful of securing direct qualification. They managed a goalless draw against group winners Japan in their last match, despite only one shot on target. Against their main rivals, Japan and Australia, Saudi Arabia held both to 0-0 draws, showcasing their defensive prowess. However, their poor away form continues to hinder progress, with just one win, two draws, and one defeat in four away games. At the Gulf Cup of Nations, Saudi Arabia reached the semi-finals but were knocked out by Oman, ending their trophy hopes. They are now in a tight race for the second automatic spot with Australia, who lead by three points. Strategic Preparations and Team News Herve Renard's men, who will soon participate in the CONCACAF Gold Cup, must beat Bahrain to keep pressure on Australia. Saudi Arabia have rallied after a slow start, taking four points from games against China and Japan in March. They warmed up for this month's matches with a 2-0 friendly win over Jordan. However, they lost 3-2 to Bahrain in the Gulf Cup after a goalless draw in last year's reverse fixture. Bahrain, despite never reaching the World Cup, still have a chance to break new ground. They can move onto another stage of AFC qualifying in October if they finish third or fourth. Despite sitting fifth, Bahrain trail Indonesia by three points before hosting Saudi Arabia and visiting China as they cannot afford another loss. Saudi Arabia boss Herve Renard has opted for a youthful squad, with Al-Hilal veteran Salem Al-Dawsari usually starting on the wing. Renard can call upon Ali Majrashi, who recovered from an adductor injury. Abdullah Mado has replaced Jehad Thakri, who sustained a hamstring injury. Muteb Al-Harbi and Mohammed Bakr have been training individually and may miss out, with an eye on next week's home clash with Australia. Dragan Talajic has kept faith with the experienced squad that secured Bahrain's Gulf Cup triumph. Top scorer Mohamed Marhoon is among the familiar faces set to start. Captain Kamil Al-Aswad, with 117 caps, should feature in central midfield, while Waleed Al Hayam helms the defense. Villarreal teenager Sayed Al-Wadaei has been called up but is likely bound for the bench. Possible Lineups and Historical Rivalry Bahrain: Lutfalla, Emmanuel, Benaddi, Al-Hayam, Al-Khalasi, Saeed, Al-Aswad, Madan, Marhoon, Al-Humaidan, and Abduljabbar. Saudi Arabia: Al-Aqidi, Abdulhamid, Lajami, Al-Tambakti, Boushal, Yahya, Al-Ghamdi, N. Al-Dawsari, S. Al-Dawsari, Al-Buraikan, and Al-Sahafi. Thursday's game marks the 40th meeting between Bahrain and Saudi Arabia, with the Green Falcons boast a significant advantage as they claimed 19 victories, compared to Bahrain's 8 wins, while 12 games ended in draws. Their earlier qualification encounter in the World Cup qualification back in October 2024 ended in a stalemate. However, Bahrain are undefeated in their last three games in this fixture and have lost just one of their last six. Saudi Arabia, the lowest-scoring side in Group C with four goals, are undefeated in their last three games. They head into the clash on a high, being the stronger side. Bahrain, however, are on a run of back-to-back defeats and are winless in their last seven qualifying games. They have the worst home record in Group C, with just two points from four games, and could struggle in this match. Short link : Post Views: 2
Saudi Gazette
14 hours ago
- Saudi Gazette
US steel and aluminum tariffs doubled to 50%
WASHINGTON — US President Donald Trump has signed an order doubling tariffs on steel and aluminum imports from 25% to 50%. The move hikes import taxes on the metals - key inputs in everything from cars to canned food - for the second time since March. Trump has said the measures, which come into effect on Wednesday, are intended to secure the future of the American steel industry. However, critics say the protections could wreak havoc on steel producers outside the US, spark retaliation from trade partners, and come at a punishing cost for American users of the metals. Hours before he hiked the duties, many firms directly affected could scarcely believe the plan was moving forward, hoping it would turn out to be temporary or some kind of negotiating ploy. Even as Trump moved forward with the deal, the UK was granted a carve-out from the measures, leaving duties on its steel and aluminium at 25%, a move Trump said reflected its ongoing trade discussions with the US. "Always the question with Trump is, is this a tactic or is this a long-term plan?" said Rick Huether, chief executive of Independent Can Co, a Maryland-based business, which brings in steel from Europe and turns it into decorative cookie tins, popcorn boxes, and other products. He said he had put investments on hold and feared the abrupt changes, and price increases would lead his customers to turn to alternatives such as plastic or paper boxes. "There's a lot of chaos," he said. The US is the biggest importer of steel in the world, after the European Union, getting most of the metal from Canada, Brazil, Mexico and South Korea, according to the US government. During his first term, Trump imposed tariffs of 25% on steel and 10% on aluminium, citing a law that gives him authority to protect industries considered vital to national security. But many imports ultimately escaped the duties after the US struck trade deals with allies and granted exemptions to certain imports at the request of firms. Trump ended those carve-outs in March, saying he was unhappy with the way the protections had been weakened. At Friday's rally at the US Steel factory, he said wanted to make tariffs so high that US businesses would have no alternative but to buy from American suppliers. "Nobody's going to get around that," he said of the 50% rate. "That means that nobody's going to be able to steal your industry. It's at 25% - they can get over that fence. At 50%, they can no longer get over the fence." As of May, imports and the rate of raw steel production in the US had changed little since last year before Trump raised tariffs, according to the American Iron and Steel Institute. But steel imports fell 17% in April, compared to March. And businesses selling the metals into the US said they expected Trump's latest announcement to lead to an even more dramatic drop. Trump's moves in March had already prompted Canada and the European Union to prepare to hit back with tariffs of their own American products. On Tuesday, Olof Gill, spokesperson for economic security and trade for the European Commission told the BBC the two sides were engaged in intense talks to try to make progress toward an agreement. "We're negotiating hard to try and make good deals," he said. "We really hope that the Americans will roll back on this latest tariff threat, as they have done on others, but that remains to be seen." In the UK, Trump's announcement put new pressure on the government to pin down the trade deal in the works with the US, which had been expected to provide some protection from the March metals tariffs. Trade Secretary Jonathan Reynolds met with US Trade Representative Jamieson Greer in Paris on Wednesday. His office said it was "pleased" that the trade talks had protected UK steel from the latest duties. "We will continue to work with the US to implement our agreement, which will see the 25% US tariffs on steel removed," he said. Gareth Stace, director general of UK Steel, which represents steelmakers, told the BBC that his members had already seen orders cancelled and delayed as a result of the 25% tariffs put in place in March. He warned that a 50% tariff would be "catastrophic" for UK exports to the US, about 7% of overall exports. "The introduction of 50% tariffs immediately puts the shutters up," he said. "Most of our orders, if not all of them, will now be cancelled." Economists said the US economy is also facing damage, as prices rise as a result of the new measures. A 2020 analysis estimated that Trump's first term tariffs created roughly 1,000 jobs in the steel industry, but cost the economy 75,000 jobs in other sectors, such as manufacturing and construction. Erica York, vice president of federal tax policy at the Tax Foundation, said that she expected to see even more extreme job losses this time. "Some of the strongest evidence is against tariffs on intermediate inputs like steel and aluminium, finding they are much more harmful because they increase the cost of production in the United States," she said. "It's just very foolish to double down on this type of tariff in particular." Chad Bartusek is director of supply chain management at Drill Rod & Tool Steels, a small, family-owned manufacturing business in Illinois, which brings in about 800,000 pounds of Austrian-made steel each year, at specifications he says are not produced in the US. Bartusek said he was currently waiting on three containers worth of steel rod, which would have entered the US without duties at the start of the year. As of last week, he had expected to pay tariff costs about $72,000. Instead, he is looking at a tariff bill of almost $145,000. "I woke up Saturday morning, looked at the news and my jaw dropped," he said of Trump's announcement. Bartusek said business had been steady until a few weeks ago. But his firm raised prices earlier this year by 8% to 14% to help cover the new cost of the tariffs. Now customers have been ordering more cautiously and he has had to cut back hours for workers. "It's one punch after the other," he said. "Hopefully, this settles down quickly." — BBC
