Access Industries, a New York-based private equity firm, founded and led by Blavatnik, has subscribed for $4.3bn of new shares in Dazn Group Limited, converting existing preference shares and retiring shareholder loans.
This comes off the back of a healthy year for Dazn, whose global sports streaming service became the primary broadcaster of Serie A in Italy, acquired rights to LaLiga in Spain and launched “substantial” coverage of Bundesliga in Germany. Dazn also struck a five-year global boxing deal with Matchroom Boxing and a four-year global deal with UEFA Women’s Champions League.
And having now secured more financial support from Access Industries, the group’s principal shareholder, Dazn claims it will be able to “maintain its strong commercial momentum.”
“This backing by Access represents a strong vote of confidence in Dazn’s strategy, progress and future growth opportunities. We are also grateful for the continued support of Dentsu, our second largest shareholder,” said Kevin Mayer, Chairman of the Board at Dazn Group.
“Dazn is leading the transformation of how fans engage with sport, has quickly become the world’s leading sports streaming broadcaster and we are expecting another exciting year in 2022 as our platform diversifies into the true global destination for sports fans.”
Access Industries will follow up its multibillion-dollar investment by subscribing for a further $250m of new shares post-recapitalisation. As 2022 progresses, Dazn said sports fans can expect “an even deeper, more interactive experience.”
