DAZN seeking $500m in funding?
October 28, 2019
OTT sports broadcaster DAZN is reportedly seeking to raise $500 million (€450.5m) in new funding. The money would likely be used to support its expansion efforts as it looks to grow beyond its existing territories (Austria, Germany, Japan, Switzerland, Canada, Spain, Brazil, Italy and the US).
Bloomberg reports that New York-based investment bank Goldman Sachs is working on the fundraising. DAZN has ths far not commented.
DAZN’s expansion to this point has been supported by billionaire owner Leonard Blavatnik via his Access Industries parent company. Blavatnik is worth over $2 billion, but Bloomberg suggests that the fundraising effort may be a sign that he is no longer willing to solely carry the cost of expensive sports rights.
DAZN has grown swiftly since its launch in 2016 by spending a heavily on sought after sports rights. It is currently home to the likes of NFL, MLB and all five major European football leagues and the UEFA Champions League in various territories.