Barry and Eddie Hearn ‘eye £150m windfall from sale of minority stake in Matchroom’
Barry and Eddie Hearn ‘see £150m windfall from sale of minority stake in Matchroom Sport empire’, with promotional activity reportedly valued at up to £700m
- The father-son duo is reportedly in talks with private equity firms
- They are in talks to sell a minority stake in their sports promotion empire
- Company founded by Barry Hearn would be worth around £700m
Barry and Eddie Hearn are reportedly in talks with three private equity firms over the sale of a minority stake in their sports promotion empire.
The father and son duo have grown their sports promotion company Matchroom Sport into one of the most notable sports ventures in the world and are now looking to cash in on a minority stake in the company.
According to Sky News, the Hearn duo are in ‘detailed’ talks with three companies about a possible deal. The three private equity firms are reportedly KKR, CVC Capital Partners and Searchlight Capital.
Barry (L) and Eddie (R) Hearn are reportedly in talks with three private equity firms
Founded by Barry Hearn over 40 years ago, the sports promotion empire could be valued anywhere between £600m and £700m.
It has been suggested that they could sell a 25 per cent stake, which would give them a £175m windfall if a company valued Matchroom Sport at £700m.
Despite their plans to sell a significant minority stake in the company, the duo had no intention of relinquishing control of the company.
Hearn Jr. has grown the company into one of the most important players in the boxing world after father Barry built the company on top of the snooker wave in the 1980s.
The father and son duo are looking to sell a minority stake in their sports promotion empire
With the younger Hearn taking over from his father’s gavel last year, the company’s presence in the extremely lucrative boxing world is only set to grow.
Key fighters in the Matchroom stable include Anthony Joshua, Josh Warrington and Katie Taylor.
Sports assets are currently being picked up for significant sums around the world as investors seek to participate in the lucrative market.
It was recently announced that Anthony Joshua’s rematch with Oleksandr Usyk would take place in Saudi Arabia in August.
Chelsea was recently sold to LA Dodgers owner Todd Boehly for around £4.25bn, while the next batch of broadcast rights to the IPL were sold for a record £5bn.
Meanwhile, it was announced last week that Joshua, widely regarded as the greatest athlete currently working with the company, would be fighting Oleksandr Usyk in Saudi Arabia in mid-August.
The fight, set to take place on August 20, is a rematch of the pair’s September 2021 match, which Ukraine’s Usyk won convincingly.
Todd Boehly recently bought Chelsea for an eye-watering fee reported to be £4.25bn
Joshua will try to win back the titles he lost to Oleksandr Usyk on August 20 of this year