News Post

Saudi's PIF eyeing stake in LaLiga, Bundesliga streamer DAZN

VCCircle · 22d

- Saudi Arabia's Public Investment Fund (PIF) is considering purchasing a minority stake worth around $1 billion in sports-streaming group DAZN. - The deal would increase PIF's influence in European football, as DAZN is a broadcasting partner for top football leagues like Serie A, LaLiga, Bundesliga, and Ligue 1. - The PIF, which owns English Premier League club Newcastle United, has discussed investing around $1 billion for a 10% stake in DAZN. - Discussions between PIF and DAZN have been ongoing since late last year, but no deal has been finalized yet. - DAZN, which competes with traditional TV and satellite channels, offers a wide range of sports content and is seeking an overall valuation of $10-12 billion in a potential deal. - DAZN's revenue increased by 41% to $2.1 billion in 2022, but it recorded an operating loss of $1.06 billion due to increased rights costs.