PIF explores buying 10% stake in DAZN for $1B: Report

Logo of DAZN

The Public Investment Fund (PIF) is among potential bidders exploring the purchase of a 10% stake for nearly $1 billion in UK-based sports-streaming group DAZN, Reuters reported, citing informed sources.

Discussions between the fund and DAZN have been ongoing since late last year but are not advanced, the report said, cautioning there is no certainty a deal will happen.

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DAZN has held talks with at least three investment funds over various strategic partnerships in recent months and is seeking an overall valuation of $10 to $12 billion in a potential deal, a source added.

The sports-streaming platform, launched in 2016 in Germany, Austria and Switzerland, currently broadcasts European and world sports tournaments. It currently serves more than 200 countries.

DAZN's revenue jumped by 41% to $2.1 billion in 2022, according to its latest results.