Saudi Arabia’s sovereign wealth fund is in discussions to take a stake of up to 10 per cent in global streaming business DAZN, a deal that would hand the Persian Gulf kingdom an influential voice in Australian broadcaster Foxtel.

DAZN, which specialises in sports streaming, is controlled by British businessman Len Blavatnik and last month agreed to buy Foxtel from News Corp and Telstra in a deal it said valued the local group at $3.4 billion.