BT confirms BT Sports sales discussions | Major Businesses | Business | News | Rapid TV News
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Barely had the final whistle blown on the second semi-final of the Champions League for which it has exclusive rights to and BT looks to have issued a come and get me plea for its sports broadcasting division.
BTSport NationalLeague 23Dec2020
In a statement, the incumbent UK telco said that further to media reports, it could confirm that early discussions are being held with a number of select strategic partners, to explore ways “to generate investment” and “strengthen” BT Sports and help “take it to the next stage in its growth.”

The media reports began with revelations in The Financial Times that the telco was considering disposal or partnership as it looks to focus to core telephony operations. In its recent third quarter results, the company revealed the continued cost of dealing with the Covid-19 crisis with particular pressure being felt in its consumer division in which BT Sports is based. Overall, for the nine-month period ended 31 December 2020, BT reported revenues of £16.058 billion, down 7% on a yearly basis, due mainly said the company to the impact of Covid-19 on its consumer and enterprise units.

The FT reported that BT has appointed investment bank Lazard to handle a potential sale and that it has already and held talks with companies including DAZN, Amazon, the Walt Disney Company and private equity companies over a potential investment in the business. The move could encompass a full disposal of BT Sport, forming a joint venture or partnership with a media business, or selling a stake in it to bring in outside investment. As it confirmed that talks had indeed been taking place, BT said any discussions were confidential and may or may not lead to an outcome.

BT Sport has won plaudits for the quality of its coverage of sports in particular Champions League and English Premier League football. Yet the service was badly affected by the Covid-19 crisis which severely reduced the firm’s revenues after all football was postponed until July 2020 and revenues from both residential customers and pubs and clubs declined.