Live sports streaming service DAZN has struck a deal to buy global sports media business ELEVEN Group, which holds rights to the top soccer leagues in Portugal and Belgium.
The deal, for an undisclosed sum, will boost DAZN’s offerings in Italy, German-speaking markets and Spain, where it already holds top league domestic soccer rights. Additionally, ELEVEN has a presence in Taiwan and other Southeast Asian markets, which will give DAZN a greater foothold in that region where the service is already market leader in Japan, the company said in a statement.
The deal also includes ELEVEN-owned Team Whistle, which is a short-form original social media content provider said by DAZN to have over 700 million followers across its channels. Team Whistle is estimated to bring total revenue of around $300 million a year, DAZN said.
DAZN Group CEO Shay Segev in a statement said the deal was “a big step forward in our mission to be the leading global sports platform.”
ELEVEN was founded in 2015 by Italian entrepreneur Andrea Radrizzani after he sold the sports rights agency MP & Silva to a Chinese buyer for more than $1 billion. Radrizzani is the majority owner of English Premier League club Leeds United. once the deal is completed he will join DAZN’s board, DAZN said.
ELEVEN Group was advised by Guggenheim Securities.
DAZN, which is backed by billionaire Len Blavatnik, has rapidly expanded into more than 200 countries. Last year it won rights to the bulk of Italy’s Serie A soccer by plunking down more than $1 billion per season for a three-year contract.
