Saudi Arabia Buys Stake in Blavatnik’s Streaming Service Dazn

The sports investment arm of Saudi Arabia’s sovereign wealth fund is buying a minority stake in billionaire Len Blavatnik’s streaming service Dazn Group, which holds the broadcasting rights of some of Europe’s top-tier football leagues.

SURJ Sports Investment, a unit of the $1 trillion Public Investment Fund, and Dazn will set up a regional joint venture to help broaden fans’ access to live and on-demand sports content, according to a statement Monday. Financial terms of the deal weren’t disclosed, though Bloomberg News has previously reported SURJ would invest at least $1 billion.

Under Crown Prince Mohammed Bin ...