Saudi PIF-backed SURJ Sports Investment acquires minority stake in DAZN
Saudi Arabia-based SURJ Sports Investment, a PIF affiliate, said it has agreed to acquire a minority stake in DAZN, the global leader in sports entertainment.
The two, who are natural partners, are committed to the unifying power of sports by making world-class sports rights available globally, the companies said.
As part of this agreement, the two companies will work closely to establish DAZN MENA, a joint venture that will unlock new broadcasting opportunities for Saudi Arabia's growing sports sector and accelerate fans' access to live and on-demand sports content.
The partnership also aims to strengthen Saudi Arabia as a leading market for sports investments, while capitalising on the significant growth in demand for high-quality sports broadcasting.
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.
'SURJ supports the leadership of DAZN, and our partnership will accelerate the growth of DAZN and capitalise on the significant and growing demand for high-quality sports broadcasting.
'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 said.
Shay Segev, CEO of DAZN, said as part of the DAZN MENA joint venture with SURJ, the company 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,' Segev said.
Launched in 2023, SURJ Sports Investment is mandated to invest in sports to drive international growth, while enhancing the sporting ecosystem in Saudi Arabia and the wider Middle East.
DAZN, available in more than 200 markets, 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.
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