Aser Ventures, the investment firm led by Italian businessman and former Leeds United owner Andrea Radrizzani, is considering selling part of its minority stake in the sports streaming platform DAZN to support its expansion plans.

Aser became a shareholder in DAZN in 2023 following DAZN's acquisition of the smaller rival ELEVEN Group. The ELEVEN deal initially gave Aser around a 5% stake in DAZN, valued at approximately $400 million at the time. However, this stake has decreased over time due to multiple capital raises by DAZN. Radrizzani declined to disclose the current size or value of Aser's holding.

Radrizzani, who sits on DAZN's board, told Reuters, "We are exploring a range of options, from pure financing to hybrid solutions and equity investments." He added that Aser would prefer to partner with "funds or family offices, particularly those that already have exposure to the sports-tech sector."

He also noted, "We could use all or part of Aser's stake in DAZN to finance Aser's expansion ... as a result, our stake in DAZN could be reduced."

DAZN, backed by British-American billionaire Len Blavatnik, streams various sports including soccer, boxing, American football, and baseball. In June, the Financial Times reported that DAZN was restructuring its corporate setup to facilitate raising new capital and potentially pursue a public listing.

Radrizzani emphasized, "Our goal is to explore strategic and financial partnerships to expand Aser's investments in the increasingly dynamic and fast-growing sports and technology sectors."

Sources