Access Industries invests $4.3bn in DAZN Group
The capital injection will aid DAZN in further expansion into recreational betting and gaming markets.
Billionaire investor Len Blavatnik’s Access Industries has backed the British sports media company, DAZN Group, through a $4.3bn capital injection. The recapitalization falls in line with DAZN’s plans for expansion into gaming and recreational betting.
Blavatnik founded Access Industries in 1986. Access works with both emerging and established media companies to help them achieve long-term growth. The company is based in New York and has offices in London and Moscow.
Kevin Mayer, Chairman of the Board at DAZN Group, said he expects the investment will propel the company’s goals for this year and improve its content for fans.
“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,” said Mayer.
“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.”
Movistar and DAZN also recently acquired broadcasting rights for Spain’s LaLiga soccer league last December for $5.62bn over the next five years, adding to DAZN’s more than 700 live and on-demand global sports rights.
According to the company, Access Industries will also subscribe for another $250m of its new shares. Access Industries remains DAZN’s largest shareholder.
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