Eddie and Barry Hearn ‘in talks’ to sell stake in Matchroom for £175m windfall
Eddie Hearn, and his Dad Barry Hearn, are in talks to sell a minority stake in Matchroom Sport.
KKR, CVC Capital Partners and Searchlight Capital, three private equity firms, are in talks with the father-son dup over a substantial minority. According to Sky News, talks centred on a deal that could value Matchroom at somewhere between £600m and £700m.
However, the size of the deal is yet to be finalised, but Sky are reporting it could be around 25 per cent of the Essex-based business. Should the four parties all strike a deal, it could leave the Hearn's with a £175million windfall.
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The duo have reportedly no interest in relinquishing control of the business that has become one of the main players in boxing.
Matchroom was established in 1982, and in its early days, Matchroom focused on promoting snooker – with particular success with Steve Davis and Jimmy 'Whirlwind' White. The business has since moved into boxing, where it has grown into a global firm.
Matchroom has promoted Anthony Joshua, Katie Taylor and Josh Warrington in recent years.
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Should a deal be struck, it will be the latest in a long line of major deals made in the sports world.
Matchroom declined to comment on the talks with private equity firms to Sky, while KKR, CVC and Searchlight also declined to comment about a potential deal.
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