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DAZN owner looks to sell an equity stake in the company

By 26th May 2020 No Comments

The pandemic sports cancellations are having a huge impact on the sports streamer.

The owner of DAZN is reportedly looking to sell a stake in the company to raise revenue.

According to a report in The Financial Times, DAZN owner Len Blavatnik is “exploring ways to inject new money into the loss making business”.

It says the business has approached several companies over a potential investment, including John Malone’s Liberty Global, but “as yet has received little interest in a deal.”

It references “several people familiar with the talks” as source for the story, and says a sale of an equity stake in DAZN is the preferred option to raise funds.

The Financial Times report also goes as far as saying an outright sale would be considered.

Two years ago, a 10 per cent stake in DAZN was sold to Japanese firm Dents for £300m, valuing the company at £3bn.

DAZN has spent heavily in securing sporting rights in the territories it operates in, and clearly the pandemic sweeping away all these sports this year has hit the company hard.

Broadcast Sport contacted DAZN for its response, but it says it didn’t want to make a comment on the story at this time.

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