Polsat has acquired a “significant stake” in Eleven Sports Poland in a deal that values Eleven Sports Network at approximately €80 million.
The agreement establishes Polish commercial broadcaster Polsat as a strategic partner in Eleven Sports Poland, with a new management board to feature two members each from Telewizja Polsat and Eleven Sports.
Eleven Sports said the transaction will allow it to consolidate its position as the fastest growing sports platform in Poland and enhance its offering for sports fans across the country.
It said it also supports Eleven’s global expansion plans with more new markets and several digital projects set to be revealed in the coming weeks and months.
“The agreement of this partnership with Telewizja Polsat is testament to our outstanding financial and operational success to date and our potential for further dynamic growth and development,” said Marc Watson, executive chairman and group CEO, Eleven Sports.
“This is an extremely exciting time for Eleven Sports and we look forward to working towards the new opportunities that the agreement presents, locally in Poland and internationally on a global scale.”
Maciej Stec, member of the management board of Telewizja Polsat and Cyfrowy Polsat said: “Sport has always been extremely important to our Group, our viewers and subscribers…Thanks to the strategic agreement with Eleven Sports we will strengthen our offer, make it even more appealing and continue to provide more real sports emotions.”
Stec will now become president of the management board of Eleven Sports Network. Eleven’s current managing director, Krzysztof Świergiel, will become CEO of the company. All senior management of Eleven Sports Network will maintain their current positions.