BT Group PLC (LSE:BT.A)'s sale of its sports broadcasting service 'BT Sport' to DAZN is back on the radar, according to a Reuters exclusive, which claims an US$800mln deal could be announced in the next month.
DAZN, the sports streaming platform backed by billionaire Sir Leonard Blavatnik, is tipped to be keen on BT Sports and is said to have been in negotiations for months.
Reuters reports DAZN is the front runner but progress is slow amid competition from Discovery, which owns Eurosport, and complex arrangements over rights and shared access between fellow rights holders such as Sky and Virgin Media.
For DAZN, a deal would further expand and consolidate its rights to top level sports events include Premier League and Champions League football along with rugby, cricket and UFC.
Earlier this year, DAZN acquired exclusive rights to the Matchroom Boxing promotion, which holds rights to Anthony Joshua and Connor Benn fights, ending a long-term partnership between promotor Eddie Hearn and Sky.
BT Group, meanwhile, is seeking to boost its coffers at a time when it is investing in fibre broadband infrastructure whilst also removing existing and future spending on expensive broadcast rights.
DAZN last year lost over US$2bn as it invested to acquire rights, spending about US$1.7bn, and expand into new territories. It is also linked to a potential IPO in London to support its spending and growth plans.
Blavatnik is said to have seen a US$7.5bn boost as Warner Music Group, in which he owned a stake, floated in 2020.