Rapidly growing global sports media and entertainment company, DAZN Group, has announced a further capital injection of $4.3bn (£3.16bn) from its principal shareholder, as it targets continued expansion in worldwide sports rights and diversification into new sectors.
Significant progress in 2021 provided the perfect opportunity for Access Industries, owned by the UK’s wealthiest man, Sir Len Blavatnik, to recapitalise the business. $4.3bn of new shares in the group’s holding company, DAZN Group Limited, were subscribed, converting existing preference shares and retiring shareholder loans. Access has also 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 streaming service became the primary broadcaster of Serie A football 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 worldwide deal with UEFA Women’s Champions League.