DAZN Announces Plan to Buy Eleven Sports and Team Whistle

IPO plans on hold to focus on profitability and expansion in Europe

DAZN has reached an agreement to acquire Eleven Group’s global sports media business, including U.S.-based Team Whistle.

What's the deal?

The deal gives DAZN access to Eleven Sports' European soccer rights and Team Whistle, a sports content company that provides expertise in short-form content that reaches new audiences and generates incremental revenue.

DAZN plans to focus on betting and NFTs following a $4.3 billion capital injection from Blavatnik in February. That recapitalization wiped DAZN's debt by the end of 2021, and Access Industries made an additional $250 million equity investment.

As part of the acquisition plan, Eleven Sports founder Andrea Radrizzani will join DAZN’s board as an executive director and support the DAZN Group’s business development.

The bottom line:

If approved after an anti-trust review, the deal will add $300 million in annual revenue to DAZN and position the media company to introduce new products and services that take advantage of the convergence of sports media and other entertainment verticals.

Read: Axios

Newsletter: 9/29/22 issue