DAZN: Saudi Public Investment Fund considering acquiring 10% of the platform for $1bn (press)

Saudi Arabia's Public Investment Fund (PIF) has reportedly expressed an interest in acquiring a 10% minority stake in UK streaming platform DAZN, according to the news agency Reuters, on 07/10/2024.

The investment would be valued at $1bn (€911m). DAZN representatives have reportedly spoken to "at least" three investment funds in recent months about strategic partnerships, and are looking for an overall valuation of between $10bn and $12bn (€9.11bn and €10.93bn) in a potential deal, according to Reuters.

The OTT platform posted a turnover of $2.19bn (€2bn) and a net loss of $1.25bn (€1.14bn) in 2022, while its total loss over the last four years is more than $6bn (€5.5bn). DAZN is owned by Access Industries, a company founded by Ukrainian-born British-American businessman Len Blavatnik (whose fortune is estimated at $40bn), who is also a shareholder in Warner Music Group and the music streaming platform Deezer.

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