Sources: DAZN Looking To Raise Up To $1B In New Funding

DAZN has "revived talks to raise new funding after spending heavily on its global expansion," according to sources cited by Hellier & Tse of BLOOMBERG NEWS. The sources said that the U.K.-based company is "speaking with advisers about options including a stock-market listing or divestment of assets." One of the sources said that it is "seeking to raise" as much as $1B. The sources said DAZN is in the "early stages of considering an initial public offering." Deliberations are "at an early stage," and DAZN "hasn't decided which path to pursue." Hellier & Tse note DAZN hired an adviser to help it raise at least $500M last year, only to "shelve the plans when the coronavirus crisis struck and forced the suspension of sports around the world" (BLOOMBERG NEWS, 8/19).