DAZN Secures $1.1 Billion Loan to Acquire Foxtel: What This Means for Sports Fans

DAZN Group Ltd., a sports streaming platform from the UK, is set to secure a loan of A$1.8 billion (about $1.1 billion). This financing will support its purchase of the Foxtel Group, a pay-TV and streaming service in Australia.

Several banks are involved in this loan, including Citigroup, Commonwealth Bank of Australia, and Societe Generale. These banks are preparing to offer the loan to a larger group of lenders in the coming weeks.

Recently, DAZN agreed to buy Foxtel for A$3.4 billion, marking a significant move for the company. This acquisition comes from Rupert Murdoch’s News Corp. Efforts to reach out to the involved banks and DAZN for comments have not yielded any responses.

This deal is part of a larger trend in the Asia Pacific region, where mergers and acquisitions are on the rise. In the last quarter of 2024, loan volumes for such deals reached an impressive $35 billion, with $14 billion occurring in just the last three months of the year.

In addition, Australian private equity firm Pacific Equity Partners is working on an A$800 million leveraged buyout loan for its acquisition of SG Fleet Group, which specializes in fleet management and car leasing.

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Bloomberg, Foxtel, Commonwealth Bank, DAZN