DAZN To Reportedly Sell Goal.com For $125m To TPG
June 5, 2020
DAZN Group is reportedly in talks with investment company TPG to sell Goal.com for $125 million according to the NY Times.
DAZN has been going through tough financial times because of the coronavirus pandemic. DAZN has invested billions of dollars on sports rights in various countries and its online sports streaming business, which has sustained heavy losses in its efforts to grow its subscriber base.
The New York Times further reported that TPG, which has investments in a broad range of other media and entertainment companies, including Spotify and the Creative Artists Agency, would be acquiring Goal through one of its affiliates, according to people familiar with the discussions, who declined to be identified because the deal had yet to close.
The talks, the executives said, started late last year as part of DAZN’s plans to focus and grow the cash-intensive streaming business. Under the proposals for the sale, DAZN has committed to continue working with Goal.