DAZN last year agreed to buy Foxtel from Rupert Murdoch’s News Corp and Telstra in a A$3.4bn ($2.1bn) deal, which left the two companies with a combined 9 per cent stake and valued the group at close to $10bn. The deal with Surj will be struck at around the same valuation.

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.