Sports Business : DAZN Group in talks with TPG Capital to sell

DAZN Group, the global sports subscription service and media company, is in “final stage” negotiations to sell its football website to US-based private equity firm TPG Capital, it has emerged. According to a report in the New York Times, DAZN is currently in market to raise funds amid the Covid19 pandemic. 

Executives “with knowledge of the discussions” told The New York Times that TPG is in talks to secure the business for as much as $125m. 

The US newspaper reports that TPG could pay DAZN ‘as much as US$125 million’ for Goal, which is published in 19 languages covering more than 50 countries.

The New York Times adds that TPG, which counts Creative Artists Agency (CAA), Spotify and Vice in its broad portfolio, would be acquiring Goal through one of its affiliates. 

Talks between the two parties were initiated late last year, says the report, and DAZN has committed to continue working with Goal under a potential deal.  The talks are said to have commenced late last year as part of DAZN’s plans to focus on its OTT streaming business.

The need for funding has become more acute in recent months with DAZN’s OTT operation hit hard by the Covid-19 shutdown. It was recently reported by Financial Times that billionaire owner Len Blavatnik is and could even consider an outright sale.