18TH FEBRUARY 2022
ACCESS INDUSTRIES BACKS DAZN GROUP TO CONTINUE ITS GROWTH AS THE LEADING GLOBAL SPORTS ENTERTAINMENT COMPANY
- DAZN Group announces recapitalization worth $4.3bn
- Investment by Access Industries follows a strong year which saw DAZN broadcast an increasing number of tier-1 domestic rights in Europe
- Investors’ confidence provides a firm foundation for DAZN to execute its sports destination strategy
DAZN Group (the “Group”), the leading global sports entertainment company, is pleased to announce that it has agreed new financing arrangements with Access Industries, its principal shareholder, that will allow the Group to maintain its strong commercial momentum.
During 2021, DAZN’s global sports streaming service became the primary broadcaster of Serie A in Italy, acquired rights to LaLiga in Spain, launched substantial coverage of Bundesliga in Germany, struck a five-year global boxing deal with Matchroom Boxing and a four-year global deal with UEFA Women’s Champions League. The Group’s revenues and subscriber numbers continue to grow strongly as the business expands its offering.
This strong progress paved the way for Access Industries to recapitalize the business in December 2021. As part of this recapitalization, Access Industries subscribed for $4.3 billion of new shares in the Group’s topco, DAZN Group Limited, converting existing preference shares and retiring shareholder loans.
This left the Group without borrowings at the end of 2021. Access has additionally subscribed for a further $250m of new shares post-recapitalization.
Kevin Mayer, Chairman of the Board, DAZN Group, said: “This backing by Access represents a strong vote of confidence in DAZN’s strategy, progress and future growth opportunities. We are also grateful for the continued support of Dentsu, our second largest shareholder. DAZN is leading the transformation of how fans engage with sport, has quickly become the world’s leading sports streaming broadcaster, and we are expecting another exciting year in 2022 as our platform diversifies into the true global destination for sports fans.”
This announcement comes on the heels of significant global momentum at DAZN including the recent win of domestic LaLiga rights in Spain, being named Apple TV App of the Year for 2021 and reaching a record-breaking number of fans across the world with its live sport and original programming. As 2022 continues, fans can expect an even deeper, more interactive experience with DAZN as the Group moves forward with recreational betting, gaming, e-commerce, NFTs and tech advances in the viewing experience.