LONDON, Sept 27 (Reuters) – Sports broadcaster DAZN on Tuesday said it had agreed to buy the ELEVEN Group’s sports broadcasting business to strengthen its rights, including the top football leagues in Portugal and Belgium.
DAZN said the deal will also improve its offering in Italy, the German and Spanish markets, where it holds the top football rights, and will take it to Taiwan and other Southeast Asian markets. .
Team Whistle, a former social media company, is also included in the deal, which will bring in total revenue of about $300 million a year, it said. DAZN.
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Terms were not disclosed, but a source close to the deal said the price was at the bottom of the usual two to three times, in part because it was structured as a buy-sell agreement.
DAZN Group CEO Shay Segev said the deal was “a big step forward in our mission to become the leading sports network around the world”. On the same subject : Big 12 look to Brett Yormark, executive of Jay-Z’s Roc Nation, as the next Commissioner.
ELEVEN was founded in 2015 by Italian businessman Andrea Radrizzani, who is the majority owner of the English Premier League club Leeds United.
He will join the DAZN board after that, DAZN said.
Backed by billionaire Len Blavatnik, DAZN has expanded to more than 200 countries, offering sports including soccer and boxing. Last year it won the right to watch Serie A matches live in Italy with a 2.5 billion euro ($2.7 billion) bid.
ELEVEN Group was advised by Guggenheim Securities.
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Report by Paul Sandle; Directed by Ken Ferris This may interest you : California bans state-funded travel to Indiana over transgender sports law.
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