Blavatnik investment in Dazn tops $7bn despite Surj stake sale
Billionaire Sir Leonard Blavatnik has now invested more than $7bn into sports streaming platform Dazn, having injected an extra $600m in 2024.
While revenues increased by more than $300m to over $3bn and losses narrowed from $1.4bn to $936m, according to the accounts filed with Companies House for the year ending 31 December 2024, the additional capital from Blavatnik represents sustained investment in a firm which is not yet profitable.
Blavatnik is 54th on the Bloomberg Billionaires Index, with his wealth falling by $187m to $39bn so far in 2025.
But Dazn sold a small minority stake to the Saudi Arabian Public Investment Fund subsidiary Surj Sports Investment earlier this year in a deal worth $1bn, and the streaming platform’s chief executive Shay Segev hopes that it can turn a profit for the first time next year.
“We’re aiming for at least $5bn in revenues for this year,” Dazn’s Segev told the Financial Times. “The margins are improving, our key markets are already profitable in 2025 and we are comfortable saying that in 2026 the group will be profitable as well.
“This business has a very big potential to generate a lot of free cash. Happily, we have now reached the point. Our shareholders believe in this business. They put a lot of investment in this business.
“We are now at the tipping point. I would say that we are now the biggest football platform in the world.”
Dazn’s investment
In the UK, Dazn has the broadcast rights for Serie A matches and the Saudi Pro League – home to stars including Cristiano Ronaldo – while the Professional Fighters League and many high-profile boxing events fall within its portfolio.
Earlier this year the London-headquartered company bought the global rights to the Fifa Club World Cup, and broadcast the tournament alongside sub-licensee Channel 5 in Britain.
On its deal with the platform, Surj chief and Dazn director Danny Townsend said: “Dazn has established itself as the global sports platform of choice, and this is a really exciting opportunity to build on Dazn’s significant successes in recent years by bringing more sports to fans and audiences around the world.”