Saudi Arabia Said to Near at Least $1 Billion Investment in Dazn

The sports investment arm of Saudi Arabia’s sovereign wealth fund is in advanced talks to invest at least $1 billion in billionaire Len Blavatnik’s streaming service Dazn Group, which holds the broadcasting rights of some of Europe’s top-tier football leagues, according to people familiar with the matter.

The deal between SURJ Sports Investment, a unit of the $925 billion Public Investment Fund, and Dazn could be announced as soon as this month, the people said, asking not to be identified as the information is private. Final terms are yet to be finalized and could still change, ...