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When it comes to BeIn Media Group, Saudi Arabia may go from banning to buying.
The nation’s sovereign wealth fund, the Public Investment Fund, is considering purchasing a stake in the broadcaster, which is based in and owned by 2022 World Cup host Qatar.
U.S. private equity firms are also reportedly interested in the media company.
- Saudi Arabia banned BeIn in 2017 due to troubled relations with Qatar. The dispute delayed the PIF’s majority stake purchase of Premier League club Newcastle United.
- The ban was lifted in 2021 after the two nations smoothed things over.
- BeIn Sports’ suite of sports rights includes the Premier League, Bundesliga, UEFA Champions League, and the Asian Football Confederation in the Middle East and North Africa.
BeIn chairperson Nasser Al-Khelaifi is the president of Ligue 1 club Paris Saint-Germain. The company also owns 51% of Hollywood studio Miramax.
Piece of the Puzzle
A media relationship with its neighbor would provide a valuable partner for Saudi Arabia as it pushes deeper into sports.
The PIF backs LIV Golf and Saudi Arabia will host the 2029 Asian Winter Games in a to-be-built resort city called Trojena in the country’s mountainous region — part of the country’s $500 billion futuristic NEOM project.
The country also aspires to host the 2030 World Cup and the Olympics.
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