PARIS, Feb 18, 2025 (BSS/AFP) - Saudi Arabian sports investment fund SURJ, linked to the kingdom's sovereign wealth fund, has acquired a minority stake in sports streaming platform DAZN, the two parties announced on Monday.

The statement said the deal would focus on the Middle East and North Africa.

"As part of this agreement, SURJ and DAZN will work closely to establish DAZN MENA, a joint venture that will unlock new broadcasting opportunities for Saudi Arabia's growing sports sector," said a statement on the SURJ website.

"The partnership aims to strengthen Saudi Arabia as a leading market for sports investments, while capitalising on the significant growth in demand for high-quality sports broadcasting."

SURJ, originally named SRJ, was established in August 2024 by Saudi Arabia's Public Investment Fund (PIF) "to invest in acquiring and creating new sports events, commercial rights of popular and prominent sports competitions and hosting major global events in Saudi Arabia."

British based DAZN streams live sport on-line to subscribers. It holds some rights to the Bundesliga, Serie A, La Liga, Ligue 1, Formula 1, the National Basketball Association, the National Football League and Moto GP.

In December it secured exclusive global rights to the upcoming Club World Cup in the United States for a reported sum of around one billion euros (1.05 billion dollars).

According to media reports, that deal was made possible by the anticipated Saudi Arabian investment.

DAZN is embroiled in a legal dispute with the French football league (LFP). The streamer acquired the rights to eight matches in each Ligue 1 round for 400 million euros a year until 2029.

The LFP has filed an injunction against DAZN demanding payment of the latest instalment of the contract. DAZN is complaining about piracy and a lack of cooperation from clubs in promoting the Ligue 1 content it sells to its subscribers.