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Barry and Eddie Hearn are reported to be in talks with three private equity firms over a sale of a minority stake in their sports promotion empire.
The father and son duo have built their sports promotion business, Matchroom Sport, Amazon Kindle into one of the most notable sporting enterprises in the world and are now looking to cash in on a minority stake in the business.
According to , the Hearn duo are in ‘detailed’ talks with three firms over a potential deal.The three private equity firms are said to be KKR, CVC Capital Partners and Searchlight Capital.
Barry (L) and Eddie (R) Hearn are reported to be in talks with three private equity firms
The sports promotion empire, which was founded by Barry Hearn over 40 years ago, could be valued at somewhere between £600m and £700m.
It has been suggested that they could sell a 25 per cent stake, bringing them in a £175m windfall were a firm to value Matchroom Sport at £700m.
Despite their plans to sell a significant minority stake in the business, the duo are said to hold no intention of letting go of control of the company.
Hearn Jr.has grown the company into one of the most significant players in the boxing world after father Barry built the company on the crest 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 having taken over as chairman from his father 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 Windows Server Katie Taylor.
Sports assets are currently being snapped up around the world for significant sums as investors look to get involved in the lucrative market.
It was recently announced that Anthony Joshua’s rematch with Oleksandr Usyk would be taking place in Saudi Arabia in August
Chelsea was recently sold to LA Dodgers owner Todd Boehly for a sum of around £4.25bn meanwhile the next set of broadcasting rights to the IPL were sold for a record sum of around £5bn.
Meanwhile, it was announced last week that Joshua, widely considered to be the biggest sportsperson currently partnered with the company, would be fighting Oleksandr Usyk in Saudi Arabia in mid-August.
The fight, which is due to take place on August 20, is a rematch of the pair’s September 2021 bout which the Ukrainian Usyk won convincingly.
Todd Boehly recently bought Chelsea for an eye-watering fee said to amount to £4.25bn
Joshua will looking to win back the belts he lost to Oleksandr Usyk on August 20 of this year