DAZN Group Welcomes $4.3bn Cash Injection
DAZN Group has announced a $4.3bn (£3.16bn) capital injection from its principal shareholder as it targets continued growth in global sports rights and expansion into new sectors.
The global sports entertainment company said its strong progress in 2021 paved the way for Access Industries, owned by billionaire tycoon Len Blavatnik, to recapitalise the business. As part of this recapitalisation, Access Industries subscribed for $4.3bn of new shares in the group’s topco, DAZN Group Limited, converting existing preference shares and retiring shareholder loans.
This left the group without borrowings at the end of 2021, and Access has additionally subscribed for a further $250m of new shares post-recapitalisation.
Kevin Mayer, Chairman of the Board at DAZN Group, said, “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.
“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.”
During 2021, DAZN’s global sports streaming service became the primary broadcaster of Serie A in Italy, acquired rights to LaLiga in Spain, launched substantial coverage of Bundesliga in Germany, struck a five-year global boxing deal with Matchroom Boxing and a four-year global deal with UEFA Women’s Champions League.
The group added, “As 2022 continues, fans can expect an even deeper, more interactive experience with DAZN as the group moves forward with recreational betting, gaming, e-commerce, NFTs and tech advances in the viewing experience.”
Image: Shutterstock
