Eddie Hearn Denies Reports DAZN Is Going Broke

Matchroom Boxing promoter Eddie Hearn has denied his broadcast partner DAZN is on the verge of financial collapse. Hearn says he has meetings with DAZN executives later this week to discuss scheduling and rescheduling fights. The Financial Times reported on Tuesday that DAZN is fighting for its financial future and is seeking outside investors to help save their failing business, it read.

“Online sports group DAZN is racing to secure its financial future, with billionaire owner Len Blavatnik exploring options to raise money for a business hard hit by the pandemic.

“The London-based company has in recent years spent billions of dollars for the rights to live sporting events, including European football matches and high-profile boxing contests. This was to help build a subscription streaming service dubbed the ‘Netflix of Sports’.

“The global suspension of sports fixtures during the pandemic has seen some subscribers pause monthly payments. DAZN has also sought to defer payments it owes to sports leagues, citing the lack of live action.”

Speaking on Instagram live Hearn revealed while the company is not in a great place due to the ongoing coronavirus crisis called reports the company had gone broke wide of the mark, he said.

“There is no DAZN situation. You know, every time I post, I’ve got a million bots that go, ‘Oh yeah, DAZN’s gone broke. DAZN, this and that.’ Just wait and see. We’ve got a meeting on Friday to discuss the schedule coming up.”

“It ain’t ideal times for anybody. I mean, if you’ve got a subscription company that thrives off live sport, and there’s been no live sport, it’s obviously not the best. But we’re cracking on, mate.” (Transcribed by Boxing Scene)

Do you think Eddie Hearn is telling the truth? Will DAZN be able to survive the ongoing coronavirus pandemic?