DAZN, the sports‑streaming arm of billionaire Sir Leonard Blavatnik, has set up a new Cayman Islands holding company to streamline capital raising and a potential public offering. The reorganisation will keep Access Industries at the helm while enabling fresh equity injections and a future IPO.

Blavatnik has poured more than $7bn into DAZN over the past decade, while a 2025 Saudi Arabia investment brought a minority stake for $1bn. 2024 losses fell to $936mn from $1.4bn, and revenue rose to $3.2bn, a $323mn jump that signals a narrowing margin. This contraction shrinks the loss runway and bolsters investor appeal today.

CEO Shay Segev said DAZN targets $5bn of revenue in 2025, with profitability to follow in 2026. The company recently secured a $1bn deal with Fifa for exclusive Club World Cup rights in the US, positioning it as a ‘Spotify of sport’ that blends live events, betting and fan engagement for growth and market share.

The restructuring does not alter Access Industries’ ownership stake, but it unlocks flexibility for new financing and a public listing. Investors will watch how the streamlined structure affects valuation and whether the planned IPO materialises. DAZN’s move signals a broader shift in media consolidation and digital content monetisation for investors and strategists in the sector.