Saudi Arabia’s Public Investment Fund (PIF) is among potential bidders exploring the purchase of a minority 10% stake worth around $1bn in DAZN, reported Reuters.
PIF, chaired by Saudi Crown Prince Mohammed bin Salman, is already part of a consortium that owns English Premier League football club Newcastle United as well as other Saudi Pro League clubs including Al-Nassr, where star footballer Cristiano Ronaldo plays. If the deal with DAZN goes through, it could increase the fund’s influence in European football. DAZN is a broadcasting partner for Italy’s Serie A, Spain’s LaLiga, Germany’s Bundesliga and France’s Ligue 1.
Although discussions between PIF and DAZN have been ongoing since late last year there is no certainty a deal will happen, sources close to the matter said to Reuters on condition of anonymity. Representatives for PIF and DAZN declined to comment.
DAZN subscribers gain access to a range of sports content, which also includes American football, boxing and baseball over its online streaming platform.
DAZN’s revenue jumped by 41% to $2.1bn in 2022 as it increased subscription prices and added domestic streaming rights to Bundesliga and Serie A to its platform, according to its latest results. However, it recorded an operating loss of $1.06bn due to increased rights costs. In September, the sports streamer acquired rights to broadcast the Six Kings Slam, a new elite tennis exhibition featuring Novak Djokovic and Rafael Nadal in Riyadh. It also broadcasts the Saudi Pro League in several territories and the Riyadh Season series of boxing matches, according to its website.
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Source: Broadcastpro ME