DAZN is reportedly nearing a deal with telecom company BT Group to acquire BT Sport for $800 million.
Four people familiar with the situation told Reuters the agreement could be reached this month. The companies were reportedly closing in on a deal last fall but negotiations stalled following concerns over revenue assurances and DAZN’s streaming capabilities.
U.S.-based Discovery, which is in the process of a $43 billion merger with WarnerMedia, expressed interest in BT Sport as DAZN’s negotiations lulled, proposing a joint venture with BT.
Reuters reported that Discovery is still holding negotiations, though DAZN is considered the lead bidder.
Sports Gains
Acquiring BT Sport would add a number of broadcasting rights to DAZN’s roster. In 2019, the company spent roughly $1.7 billion on sports rights according to regulatory filings.
- In May, the Premier League extended its deals with Sky, Amazon, BBC, and BT from 2022 to 2025. Collectively, the deals are worth $7 billion.
- BT Sport also has rights to cricket, rugby, and Australian rules football.
Any deal will need approval from Sky due to its partnership with BT Sport. Sky lost its bid for Serie A rights to DAZN in March after the streamer’s $2.96 billion deal. DAZN rejected Sky’s offer to share the rights for $1.8 billion.
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