Eddie and Barry Hearn ‘set for £175m pay day as they look to cash in on Matchroom Sport stake’
EDDIE HEARN and dad Barry could reportedly be set for a £175million windfall with the pair in talks to sell a minority stake in Matchroom Sport.
Barry founded the sporting event promotional company in 1982, with Matchroom enjoying early success in snooker.
They then branched out in darts and boxing where they have become a powerhouse in the latter.
And according to , Barry and chairman Eddie are prepared to sell around 25 per cent stake in Matchroom.
It has been said the company has been valued at between £600m-£700m.
Should they get maximum dollar, the father-and-son duo will pocket a cool £175m.
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The news outlet has revealed that at least three private equity firms are in negotiations with the Hearn's.
KKR, CVC Capital Partners and Searchlight Capital have all been named as being keen to partner with Matchroom.
A decision about a preferred bidder is allegedly expected in the near future.
Despite being willing to sell a stake, it has been claimed that Barry and Eddie have no intention of relinquishing control.
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In 2018, Matchroom signed the biggest deal in boxing history after signing a $1billion agreement with streaming giants Dazn.
The move saw Dazn agree to stage 16 shows on American soil per year to be shown exclusively on the platform.
And last year it was announced that Matchroom had ended their partnership with Sky Sports to take their boxing stable to Dazn in a £100m-plus contract.
Hearn and Matchroom had worked exclusively with Sky in the UK since 2012.