DAZN’s billionaire backer Len Blavatnik has provided a US$4.3 billion cash injection to the sports streamer, the company has announced.
The company said that it had received additional funding from Blavatnik’s Access Industries, with the cash set to fuel an expansion into recreational betting, gaming and non-fungible tokens (NFTs).
In addition to the cash injection, Access Industries has subscribed for another US$250 million of its new shares.
Kevin Mayer, Chairman of the Board, DAZN Group, said: “This backing by Access represents a strong vote of confidence in DAZN’s strategy, progress and futur te growth opportunities. We are also grateful for the continued support of Dentsu, our second largest shareholder.
“DAZN is leading the transformation of how fans engage with sport, has quickly become the world’s leading sports streaming broadcaster, and we are expecting another exciting year in 2022 as our platform diversifies into the true global destination for sports fans.”
The announcement comes after DAZN picked up domestic LaLiga rights in Spain along with Movistar in a deal worth €4.95 billion over five years.
The streamer also acts as the primary broadcaster of the Bundesliga in Germany, Serie A in Italy and is the European rights holder to the UEFA Women’s Champions League.