DAZN is in negotiations to acquire rival sports and entertainment media company Eleven Sports, according to a report by the Financial Times.
An acquisition would expand DAZN’s reach in Europe, where Eleven’s primary markets are Belgium and Portugal. Owned by Aser Ventures, Eleven also operates in Southeast Asia.
- No deal between DAZN and Eleven is imminent.
- Aser Ventures is owned by Leeds United owner Andrea Radrizzani.
DAZN’s potential bid comes in the wake of Eleven’s failure to secure a deal with BT Sport, a British sports channel provider under telecom company BT Group. BT Sport will now become part of Warner Bros. Discovery in a deal worth $773 million.
A conflict over BT Sport’s desire to ensure that the network would remain available to its telecom customers created an opening for Warner Bros. Discovery to secure its 50-50 deal.
Despite missing out on BT Sports’ coveted Premier League media rights, DAZN has still established a footprint in European soccer. In March, it struck a sublicensing deal with Spain’s Telefonica to broadcast all La Liga matches for $310.7 million annually over five years.
DAZN also bolstered its boxing portfolio in June, landing a five-year deal worth over $100 million with boxing producer Matchroom to broadcast matches based in the U.K. and Ireland.
Tough Losses
In February, DAZN reported that it lost $1.3 billion in 2020 due to the reduction and cancellation of live events during the pandemic. It generated $871 million in revenue that year.
