Sports streaming service DAZN is facing an uncertain future due to the impact of coronavirus, with the company’s owner reportedly considering an outright sale in order to keep it afloat.
According to the Financial Times, DAZN has been hit hard by the absence of sport during the pandemic. Subscribers have paused their accounts, while the company itself has attempted to defer payments it owes sports leagues.
The report says owner Len Blavatnik is looking at ways to inject new money into the business, according to several people familiar with the talks, with the sale of an equity stake the preferred option. However, an outright sale would also be considered, the report said.
It adds that DAZN has been looking for outside investment from companies such as Liberty Global as the pandemic shutdown has continued, though so far it has been unable to find a partner.
In 2018, DAZN was valued at £3 billion, according to the FT. People familiar with its company said it is currently unlikely to reach a similar valuation.
- DAZN defers rights payments while sports are postponed