Sports broadcaster DAZN looks set to raise as much as $1 billion over the coming months.
Billionaire investor Len Blavatnik, owner of DAZN, is already in talks with advisors on raising the funds, according to Bloomberg.
Hold tight for what could be a huge expansion for DAZN
DAZN's ambitious expansion plans could cement its position as one of the top platforms for international sports in the near future.
As yet, DAZN has declined to comment on its ongoing strategy, but reports suggest that conversations have taken place between the company’s leaders and potential advisors, and that plans to raise vast sums of capital may already be underway.
We’ll soon see the publication of DAZN’s results for 2023. Industry insiders have predicted that these results will outline a reduction in losses for the platform, following a prolonged period of heavy investment in the premium sports rights it has become well known for.
Recent years have seen DAZN snap up the rights for competitions like Italy’s Serie A, putting the streaming service just behind Europe’s Comcast Corp.’s Sky in football broadcasting.
Notably, DAZN recently lost out in its bid for UK Premier League rights. However, the platform remains in the running for French football rights - so keep your eyes peeled to see what happens there.
DAZN strengthens ties with Saudi Arabia
Heads are turning to DAZN’s increasingly important ties with Saudi Arabia as it raises capital for its next move.
DAZN currently broadcasts the Saudi Pro League, which recently made waves in global football by investing huge amounts of money to attract the attention of top names like Cristiano Ronaldo and Karim Benzema.
We recently saw the platform strengthen its position even further with the addition of boxing. An exclusive deal saw DAZN handed the rights to the whole Riyadh Season.
Ties with Saudi Arabia could hold the key to DAZN’s future expansion strategies - but time will tell.
