Sports Business : Bruin Sports Capital shelves plans to sell Deltatre

The leading Business news platform Bloomberg has reported that Bruin Sports Capital is no longer looking to sell its media and technology company Deltatre. USA-based Bruin announced in December that it was weighing up its options for Deltatre, which could include a sale of its 75 per cent stake, but the coronavirus pandemic has led the company to end that plan.

Bruin now plans to focus on growing Deltatre and a new auction for the business is not expected. Bruin paid $161 million for its stake in Italy-based Delatre in 2016, but the value of the business is understood to have climbed significantly since, reflecting the desirability of the media and technology sector.  Back in December, Bloomberg reported Deltatre could fetch as much as $1 billion, with comparisons drawn between Deltatre and BAMTech, the live streaming technology company founded by Major League Baseball, in which Walt Disney acquired a majority stake in August 2017 that valued the company at $3.76 billion, and streaming technology company NeuLion, which was bought by IMG parent Endeavor for $250 million in March 2018. Deltatre now employs more than 1,000 people worldwide, and clients have included the NFL, FIFA, Premier League, German soccer’s DFL, UEFA, the International Olympic Committee, Golf’s European Tour, UK broadcasters the BBC and BT Sport, US media giant Discovery, men’s tennis’ ATP and Japanese multinational corporation Sony. Bloomberg News also reported that Deltatre was nearing a deal to be the digital video provider for the 21 regional sports networks recently purchased by Sinclair Broadcast Group.