BT has issued a statement confirming early-stage talks with a number of partners to examine ways of generating investment and strengthening its sports business. BT said the talks are confidential and may or may not result in an agreement. The statement follows a report in UK newspaper 'The Telegraph' that BT was is in talks to sell a stake BT Sport.
The report said that BT has appointed investment bank Lazard to examine the sale of a stake in BT Sport, with talks underway with potential partners including Amazon, Disney and Dazn. According to unnamed City sources, a UK broadcaster is also involved in the talks, with international sports streaming platform Dazn said to be the "most keen" on a deal. Potential private equity partners, including Silverlake and CVC, are understood to have walked away from talks.
The talks come in the wake of the global coronavirus pandemic, which has hit the sports broadcasting market hard. A sale would allow BT to focus on upgrading its UK broadband network.
