Saudi Arabia’s Surj buys stake in sports streamer DAZN

L-R: Shay Segev, CEO of DAZN, and Danny Townsend, CEO of SURJ Sports Investment

NEWS BRIEF: Saudi Arabian sports investment company Surj Sports Investment has acquired a minority stake in sports streaming service DAZN after a deal with its owner and billionaire investor Len Blavatnik.

The deal reportedly involves Saudi Arabia’s sovereign wealth fund, which owns Surj, paying US$1bn for 10% of DAZN. As part of the agreement, Surj and DAZN will work to establish broadcasting joint venture DAZN MENA, which will go up against Qatari-owned regional market leader beIN Sports.