DAZN Needs Cash

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    • DAZN looks to raise cash as sports hiatus has stalled the online broadcaster.

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DAZN owner Len Blavatnik is reportedly looking to sell an equity stake in the startup streaming service, but an outright sale isn’t out of the question. Without sports, customers have paused subscriptions and the broadcaster has looked to defer rights payments to leagues. DAZN has $4.5 billion in commitments for exclusive broadcasting rights that include top-level European soccer leagues and boxing.

Reports suggest the $3.6 billion valuation the company reached when Japanese advertising agency Dentsu bought 10% in 2018 is unlikely. DAZN has reportedly unsuccessfully approached large media companies, including Liberty Global, for investment. An effort to raise $500 million last year was stopped when the coronavirus pandemic took off.