Billionaire Len Blavatnik has agreed a $4.3 billion recapitalisation of sports streamer DAZN.
Blavatnik’s Access Industries Holdings is DAZN’s principal shareholder.
Earlier this month, DAZN missed out on a long mooted joint venture deal with BT Sport to rival Discovery. The deal would have given it rights to UK Premier League and European Champions League games.
Blavatnik’s investment comes after Spain’s LaLiga soccer league in December sold its domestic broadcasting rights to Movistar and DAZN for 4.95 billion euros ($5.62 billion) over five years.
The London-based company also hosts coverage of the Bundesliga in Germany.
The company has spent heavily to buy rights to broadcast sports including football, boxing and Formula 1 motor racing outside.
Kevin Mayer, Chairman of the Board, DAZN Group, said: “This backing by Access represents a strong vote of confidence in DAZN’s strategy, progress and future growth opportunities. We are also grateful for the continued support of Dentsu, our second largest shareholder.
“DAZN is leading the transformation of how fans engage with sport, has quickly become the world’s leading sports streaming broadcaster, and we are expecting another exciting year in 2022 as our platform diversifies into the true global destination for sports fans.”