Surj, the sporting arm of Saudi Arabia's PIF, plans to invest $1B in DAZN and a new joint venture with the sports streamer; source: Surj will take a <5% stake
SURJ Sports Investment doesn't just invest for the sake of it. Any deal must add value to the Kingdom and align with its sporting ambitions, not just be a strong Matt Slater / @mjshrimper : In the latest in a series of coincidences, Saudi investment fund SURJ buys 10% of DAZN for $1bn. Perhaps more relevant than trying to work out DAZN's enterprise value is the mention of a DAZN MENA joint venture. Sounds like a better plan than beoutQ. https://www.nytimes.com/... Robert Joyner / @robnashville : This will give DAZN huge beachheads and ubiquity in the Aussie, MENA, and continental European markets... Saudi gets a one stop, worldwide distribution network for their ever growing sporting ventures... See also Mediagazer
#SURJSports invests in @DAZNGroup, strengthening its global sports investment strategy and advancing innovation in sports media. This collaboration expands access to world-class sports content and creates new viewing opportunities for fans worldwide. [image]
In case you've missed an amazing coincidence of entirely unrelated events: the Saudi state's PIF buys $1bn stake in struggling DAZN, who just invested $1bn in unwanted TV rights of Club World Cup to aid FIFA, who just gift-wrapped a World Cup to the Saudi state.
The FIFA-DAZN-Saudi circle is completed. SURJ, part of 2034 World Cup hosts Saudi Arabia's PIF, confirms $1billion-plus investment in DAZN, who paid $1billion (well over the odds, experts say) for FIFA's Club World Cup rights. [image]
The only surprise in this announcement is that it took so long to happen! CEO Danny Townsend has been clear—SURJ Sports Investment doesn't just invest for the sake of it. Any deal must add value to the Kingdom and align with its sporting ambitions, not just be a strong
In the latest in a series of coincidences, Saudi investment fund SURJ buys 10% of DAZN for $1bn. Perhaps more relevant than trying to work out DAZN's enterprise value is the mention of a DAZN MENA joint venture. Sounds like a better plan than beoutQ. https://www.nytimes.com/...
This will give DAZN huge beachheads and ubiquity in the Aussie, MENA, and continental European markets... Saudi gets a one stop, worldwide distribution network for their ever growing sporting ventures...