Saudi's Surj Sports Investment Signs USD 1 Billion Deal With DAZN
The deal involves Saudi Arabia's PIF paying DAZN USD 1 billion in exchange for 10% of the company.
Surj Sports Investment, the sport investment unit for Saudi Arabia's sovereign wealth fund, acquired a minority stake in British global sports media provider DAZN to form DAZN MENA. The deal involves Saudi Arabia's PIF paying DAZN USD 1 billion in exchange for 10% of the company.
'DAZN is the only truly global entertainment platform dedicated to sport, which makes us ideally positioned to expand access to sports content globally from Saudi Arabia's growing sports sector,' Shay Segev, CEO of DAZN, said.
Founded in 2007, London-based DAZN has often been dubbed the 'Netflix of Sports,' now operating in more than 200 markets across the world. The sports media provider has already been Saudi Arabia's main provider for both boxing and football.
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