Sports streaming platform DAZN is receiving another $500 million (A$770 million) in backing from billionaire owner Leonard Blavatnik, but the funding is unlikely to provide much of a boost to Australian pay TV giant Foxtel.
Blavatnik’s Access Industries has signed a letter of intent promising to financially support DAZN for another year, giving the sports streaming business further backing as it pursues its ambitions to bring sports broadcasting, betting, merchandise and ticketing together on one platform.
The latest commitment follows a series of investment from Blavatnik, including a $610 million loan in 2025 and a further $360 million in early 2026. The Ukrainian-born billionaire, whose fortune is estimated to be worth at $35 billion, has spent $7.4 billion building DAZN over the past decade.
The backing comes as DAZN faces financial pressure. Corporate financial statements reveal that DAZN Limited recorded a £772 million (A$1.48 billion) loss for the year ending December 31, 2025.
B&T understands the injection of funding will not impact Foxtel.
“The consolidated annual report and financial statements filed at Companies House at the end of September were for DAZN Sports Media Limited (DSML). They cover a subset of the wider DAZN Group and therefore do not reflect the whole group,” a DAZN spokesperson told B&T.
News Corp completed the sale of Foxtel Group to DAZN Group in April 2025, following the initial announcement and agreement in December 2024.
