Raising $1 Billion

DAZN is reportedly looking to raise $1 billion. Potential options for the sports streaming company’s raise include a stock market listing or divestment of its assets.

Along with a potential initial public offering, the company is reportedly considering going public through a special purpose acquisition company — as other sports entities like DraftKings and Allied Esports have done in the past two years. Another possibility would be selling off its Japanese business.

All potential options are at an early stage, sources told Bloomberg. The COVID-19 pandemic halted a previous effort to raise $500 million.

Since launching in 2016, DAZN has spent aggressively to acquire sports media rights across the globe, but struggled with its monthly subscriber plans as sports shut down. In June, the platform expanded its share of soccer rights in Germany, but has also sought to exit its Asian coverage of the Champions League and its Serie A rights in Brazil.