Discover muscles on sale from BT Sport – .

Discover muscles on sale from BT Sport – .

Dazn, who is advised by Goldman Sachs, asked BT for long-term guarantees that would mean he would cover the costs of BT Sport customers canceling their subscriptions. BT reportedly refused such requests.

BT is seeking to withdraw from sports broadcasting almost a decade after ambushing Sky during the Premier League rights auction in 2012. At launch, it made BT Sport free to broadband customers , in order to stem the flow of defections to his then bitter rival.

In recent years, the couple have entered into a truce which means that each gives access to their sports channels to the other. BT aims to exit the business to avoid exposure to the volatile rights market and allow it to focus on improving customer service in its core broadband and mobile operations.

A joint venture with Discovery wouldn’t give BT as quick and clean an exit as Dazn’s money. However, Discovery, which is in the midst of a $ 43 billion takeover of WarnerMedia that will create the world’s second-largest media company after Disney, can be seen as the most attractive partner in other ways.

Change of control clauses in BT’s agreements with Sky give Britain’s biggest pay-TV provider a grip on the talks. While this is not seen as an obstacle to a deal with Dazn, he views the start of streaming with suspicion after a dispute over football rights in Italy.

The pandemic has also led to conflicts between Dazn and sports rights holders as she seeks to cut costs. He made a loss of $ 1.4 billion the year before the coronavirus devastated live sports.

Dazn, who owns the UK rights to the boxing matches, is looking to acquire BT Sport as he aims for a float next year. Sir Leonard, who made his fortune in natural resources from the former Soviet bloc, has invested billions of dollars in the business and has been seeking to share the burden since before the pandemic.

Kevin Mayer, a former senior Disney executive, has been named president of Dazn as part of preparations for a listing. However, he is also an advisor to Discovery, which has raised concerns about a potential conflict of interest regarding BT Sport. Sources close to Mr Mayer said all of his interests have been openly declared and any potential issues have been addressed.

All parties declined to comment.


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