DAZN Group has received a recapitalisation of $4.3 billion from its billionaire investor Sir Len Blavatnik.
The money comes through Access Industries, Sir Len’s principal holding company, and leading shareholder in DAZN.
The streaming service recently withdrew from a bid to buy BT Sport, leaving Discovery to take part in a new joint venture with the telco, and gain access to Premier League and Champions League rights.
However, working with Movistar it acquired the broadcasting rights for Spanish top-flight football, LaLiga, in a €4.95 billion deal. It also became the lead broadcaster of Serie A football in Italy amid controversy over the quality of its reception. It also has a five-year deal with Matchroom Boxing and a four-year agreement with UEFA Women’s Champions League.
DAZN said the recapitalisation meant it ended 2021 without any borrowing. Access also subscribed for another $250 million of new shares
The recapitalisation by Access gave it the opportunity to “maintain its strong commercial momentum”.
