Sports streaming platform DAZN are reportedly close to completing a $800 million (£583m) deal to buy BT Sport, and secure the rights to Premier League and Champions League matches in the UK.
Reuters have reported the purchase is expected to be concluded later this month after a number of talks between the two parties.
However, the deal still isn’t over the line and could still fall through, four sources close to the situation have told Reuters.
Discover INC emerged as a rival bidder after talks between BT and DAZN were said to have stalled; all three parties are yet to comment.
The Sunday Telegraph reported that the DAZN, who currently own Eurosport, were initially interested in forming a joint venture with BT as opposed to an outright sale.
Whilst Discovery remain in negotiations, DAZN are reportedly in pole position as per two of the sources referenced by Reuters.
However, one of the biggest stumbling blocks is proving to be securing agreements with rights holders in addition to Comcast Corp’s Sky and Virgin Media, which distribute BT Sport’s programming in the UK and Ireland.
The large viewing figures generated by live sporting events mean streaming platforms are prepared to pay a significant amount to broadcast matches.
DAZN who are most commonly known in the UK for their boxing coverage, have capitalised on the popularity of sports by providing a streaming service that would allows people from around the globe to have access to live events.
