Fz Sports, the parent company of Fanatiz, announced growth funding of $74 million. All of that is dedicated to expanding its TV rights to Latin American sports. A handful of partners contributed to this $74 million influx for sports rights. For example, 777 Partners, MEP Capital, Torneos, Serengeti Asset Management and Magma Partners contributed to this funding.
This is great news for Fanatiz, which is already among the leaders in live sports broadcasts for Hispanic audiences. Part of the major draw is the fact that beIN SPORTS is available on Fanatiz. This provides coverage to several South American competitions and Ligue Un in France. Of course, now that Messi and potentially Neymar are out the door, the draw goes down a little.
Therefore, it is pivotal now more than ever for Fanatiz to start acquiring more leagues. The focus now appears to be on Central American leagues. Fanatiz already has the Spanish-language rights to the Argentine Primera Division and Brazilian top flight. Plus, the parent company’s increased funds help the partnership with the Peruvian soccer association and that country’s top division.
Matías Rivera, the CEO of Fz Sports, said this funding will go a long way to secure more rights.
Our Pick:Includes: Argentine league, Brasileirão, + beIN SPORTS
“This financing will allow us to continue supporting and boosting the sports rights management and distribution of several of the most important leagues and federations in the region,” Rivera said in a statement.
What leagues will Fanatiz target with more funding?
It is clear that Fanatiz wants to avoid the volatile market of European soccer. Plus, given the exorbitant rights fees that some of the top divisions are charging for international rights, even $74 million would be a laughable offer.
With the Peruvian, Chilean, Brazilian and Argentine leagues secured, the Uruguayan league would be a natural next step for Fanatiz. Currently, GolTV has the rights to the Uruguayan top division and the Ecuadorian Serie A.
Something else to keep in mind is Fanatiz’s relationship with the Peruvian Federation. That accounts for the friendlies Peru plays in. If Fanatiz targets Federations in the same way Warner Bros. Discovery did with US Soccer, there could be a market there.
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