Saudi PIF Nears $1 Billion Investment in DAZN
Saudi PIF Nears $1 Billion Investment in DAZN

Saudi PIF Nears $1 Billion Investment in DAZN

News summary

Saudi Arabia's Public Investment Fund (PIF) is nearing a significant investment of at least $1 billion for a minority stake in sports streaming service DAZN, potentially valuing the company at $10 billion. This deal would mark a further alignment of Saudi investments in global sports, aligning with the kingdom's ambitions as it prepares to host the 2034 FIFA World Cup. While discussions have been ongoing for about a year, DAZN has faced substantial losses totaling more than $5 billion, but the funding could provide necessary resources for expansion and securing sports rights. The investment would also allow DAZN to broadcast content from Saudi Arabia and enhance its presence across multiple continents, deepening ties with the Saudi sports sector. Despite previous denials from PIF regarding current plans to invest, the deal is reportedly in advanced stages and could be finalized soon. The investment has drawn scrutiny due to Saudi Arabia's controversial human rights record, but DAZN appears willing to proceed.

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