Saudi Arabia Pivots, Now Wants to Buy In on BeIn

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.