Home Consumer debt FOS PM: DAZN erases $4.3 billion in debt

FOS PM: DAZN erases $4.3 billion in debt

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For those hoping to see the college football playoff expand beyond four teams: It won’t happen — at least not until 2025. CFP executive director says there won’t be any changes until at the end of his current 12-year contract.



DAZN wipes the slate clean with a $4.3 billion recapitalization from its billionaire owner.

Len BlavatnikInvestment firm Access Industries Holdings LLC, DAZN’s largest shareholder, repaid loans, converted shares and took a larger stake in the sports streaming service to eliminate DAZN’s debt from the end of 2021.

Blavatnik saw his wealth grow of $9.8 billion between the start of 2021 and $31.2 billion in mid-May.

DAZN checked in a loss above $1.3 billion for 2019. The company said revenue grew by 20%, but was still far from profitable.

Access puts a an additional $250 million in DAZN as it seeks to expand into new markets.

Specifically, the company aligns moves in:

On Wednesday, DAZN reached an agreement with Buzzerwhich will provide abridged boxing highlights available through micropayments.

fight for rights

DAZN has built its audience through combat sports but has recently sought out some of the biggest audiences in other sports, especially soccer.

It holds A-series broadcast rights and turned down an offer from Sky of $1.8 billion more than three years to divide them. These rights are credited with helping boost his subscriber count from 9 million to 11 million.

In December, he struck a split deal with Movistar to broadcast the league. The five-year pact is worth a handset $5.6 billion.

However, DAZN suffered a significant setback when a deal to acquire BT Sports and its coveted English Premier League the rights fell through. BT is currently in negotiations with Discovery.

DraftKings/Design: Alex Brooks

DraftKings raised its revenue forecast for the fiscal year after the latest sports betting earnings report on Friday, but its shares fell on concerns about profitability.

The Boston-based company generated $473 million of revenue in the fourth quarter of 2021, an increase of 47% compared to the same period of the previous year. Despite the growth, DraftKings posted a loss of $326 million in the quarter, a jump from a loss of $243 million in the fourth quarter of 2020.

Losses for the full fiscal year 2021 reached $1.5 billion in fiscal year 2021, compared to $1.2 billion in 2020.

DraftKings expects fiscal 2022 revenue to be between $1.9 billion and $2 billion, a slight increase from a previous target of between $1.7 billion and $1.9 billion. of dollars. The company attributes the expected growth to the recent launch of mobile sports betting in Louisiana and New york.

DraftKings plans to continue expanding.

  • The company explores market opportunities in Maryland, Port Ricoand Ohio.
  • Currently, it offers mobile betting in 17 states — about 35% of the American population.

The company’s shares fell more than 20% Friday in response to its reported losses.

More than the game

Last December, NFLPA licensing partner OneTeam Partners and DraftKings announced an agreement to publish products on DraftKings Marketplace during the 2022-23 NFL season.

The two entities plan to create NFTs that can be used in games on the DraftKings platform.


Kirby Lee-USA TODAY Sports/Design: Alex Brooks

Fanatics and a number of high-profile investors are buying vintage sports jersey maker Mitchell & Ness for $250 million, five times the amount Adidas sold it in 2016 to Juggernaut Capital Partners.

Sportswear company is joined by investors including entrepreneur Maverick Carter, rappers Jay-Z, Meek Mill and Lil Baby, and TikTok’s famous D’Amelio family. Jay-Z became Vice President of Fanatics and participated in a $322 million funding round last year, valuing the company at $18 billion.

Fanatics would supervise 75% from the jersey maker, and the additional investors will own the rest.

  • Mitchell & Ness checked in $350 million in revenue last year and $70 million in profit.
  • Since its acquisition by Juggernaut Capital, the company revenue has tripled, according to to CEO Kevin Wulff.

Mitchell & Ness will operate as a separate brand. The deal is expected to help increase the company’s global brand awareness, expand its product portfolio and bring new league and team rights. In November, Mitchell & Ness officials noted they wanted to open five to six more bricks and mortar American stores.

The Fortune of the Fanatics

Fanatics’ trading card company was valued at $10 billion in September and has grown to to acquire Topps for $500 million in January. It has exclusive agreements with the NBA, MLBtheir players’ associations and the NFLPA.

The company also showed growth interest in his own bookmaker, although he was recently denied a license in New York.

  • In The Leadoff, the Washington Commanders are set to build a new stadium complex in Virginia, Formula 1 has a record year for viewership, Monster Beverage nears an $85 billion merger, and the cost of Beijing Winter Olympics is higher than expected. Click here to listen.
  • Major League Rugby has extended its deal with BitFire Networks to support the league’s global broadcast transmissions.
  • The Italian Serie A is exploring a tournament in the United States that would take place during the 2022 World Cup. The potential tournament is part of a plan to expand the international reach of Serie A.
  • The Oakland City Council vote to certify an Environmental Impact Assessment for the proposed Howard Terminal baseball stadium in Oakland A. The stadium is part of a $12 billion development plan that includes housing, hotels and retail space.


Find out exactly what’s happening in private markets every week with highlights from our Front Office Sports Insights trade tracker.

We carefully monitor public and private market data to capture a picture of what the sports landscape looks like.

This week Transaction tracking strong points:

  • fit onthe developer of a fitness app designed to provide on-the-go group fitness workouts, raised $40 million in a Series C funding round led by Delta-v Capital.
  • CSM Sports, the operator of a workflow automation platform designed to maximize sports content, raised $100 million in a Series D funding round led by Ion Asset Management.
  • sports religion, the developer of a sports media platform intended to provide game highlights, scores, podcasts and articles on various sports, has announced that it will raise $50 million in seed capital. The company was co-founded by Tom Brady.
  • Triple Dot Studiosoperator of a game studio that develops casual mobile games, raised $116 million in a Series B funding round led by Harry Stebbings and 20VC.
  • mazedeveloper of computer and video games for renowned franchises, has entered into a definitive agreement to be acquired by Nacon for $60 million.

To try full Transaction tracking.

(Note: all at market close 2/18/22)

Team Durant takes on Team LeBron on Sunday at Rocket Mortgage FieldHouse for the 2022 NBA All-Star Game.

How to watch: 8 p.m. ET on TNT

Betting odds: Team LeBron -5.5 || ML-220 || O/U 320.5* (Bet on DraftKings)

Take: Expect King James and Steph Curry to pack a punch. Take Team LeBron to cover.

*Ratings/lines are subject to change. The T&Cs apply. To see draftkings.com/sportsbook for more details.