LONDON-BASED GLOBAL SPORTS media company DAZN Group Ltd (DAZN), has reportedly finalised an agreement to sell a majority stake in its digital football-focused platforms, including Goal.com, to Integrated Media Company, a venture backed by California-based investment firm, Tarrant Capital IP LLC (TPG).
The New York Times had first reported in June that TPG was in final stage talks to acquire Goal, and now SportBusiness reports that the “definitive agreement” that has been reached by the two parties also includes Spox and VoetbalZone, the German and Dutch portals respectively.
While NYT had reported that DAZN was looking at a valuation of up to $125 million for the sale of Goal, according to SportBusiness, the final agreement values the three brands together at just over $100m (€85.2m).
As per SportBusiness, DAZN Group will retain a significant minority share and will have a seat on the board of the new venture. IMC was set up with TPG backing as a special-purpose digital media investment company in 2018.
IMC and DAZN said that the deal has been agreed with a view to expanding and accelerating the global soccer platform, with Goal to “enrich its coverage of the world’s top sport and additionally create digital opportunities enhancing the fan experience, advertiser proposition, and overall popularity of the game particularly in growth markets.”
Goal.com, Spox and VoetbalZone have been part of DAZN Group’s football portals business, FootballCo, offering news, scores, video and other editorial content in 19 languages.
Perform Group acquired Goal.com in 2011 for $23.1m. In September 2018, Perform Group divided its assets to create two separate divisions, with Goal.com, Spox and VoetbalZone housed under DAZN Group, which also operates the flagship OTT business.
The sale of Goal will provide the much-needed funds required by DAZN to continue to operate smoothly considering the losses incurred by it and the investments it has made in its struggling sports streaming platform. These troubles have increased manifold with the suspension of major sporting events and leagues due to the coronavirus pandemic.
Founded in 2004, Goal is the world’s largest online football news website providing content in 19 languages.
