DAZN reportedly on verge of US$800 million BT Sport acquisition

DAZN is reportedly nearing a deal to acquire BT Sport for an estimated US$800 million.

BT CEO Phillip Jansen said that the company was exploring a sale of the broadcaster in mid-2021, with the money from a potential deal going towards the operator’s fibre rollout plans.

Now, Reuters is reporting that DAZN is close to an US$800 million deal. Citing sources familiar with the matter, the newswire claimed that a deal could be reached this month but they added that it could still fall apart.

Negotiations between the parties became public in late 2021, and Discovery emerged as a potential backup when talks stalled. Discovery is still in discussions with BT, but DAZN is the favourite at this point.

DAZN has long been touted as a suitor for BT Sport as a major entry into the UK market. The company operates its international boxing service in the UK, but this is a very minor offering by comparison to the mainstream rights it holds in countries like Germany and Italy.

BT currently is the sole rights holder to UEFA competitions including the Champions League, while it also holds rights to the English Premier League, Serie A, Premiership Rugby and the Ashes.

The report however states that an obstacle facing a deal is securing agreements with rights holders and operators Sky and Virgin Media.