Matchroom has sold a 15 percent minority stake to U.S. investment firm Bruin Capital, with the Hearn family retaining majority ownership of the sports promotional company.
The Essex-based business, founded by Barry Hearn in 1982 and now led alongside Eddie Hearn, is best known for its boxing, darts and snooker events. Eddie will continue as Group Chairman, while Barry remains Founder and President, with Bruin joining Matchroom’s board of directors.
Financial terms were not disclosed, but a report by the Financial Times suggested Matchroom is valued at more than £1bn. That would place Bruin’s stake at around £150m.
Barry Hearn said the deal will help drive a major push into the United States, especially with darts. “We want to make a massive push into America,” he said. “If you want to create a monster, where do you want the biggest monster to live? Probably the USA.”
Eddie Hearn also pointed to global growth, saying the partnership gives Matchroom the ability to “accelerate that expansion” in the United States and beyond.
Bruin founder George Pyne praised Matchroom as “one of the most important independent sports businesses in the world,” highlighting opportunities in live events, media rights and sports intellectual property. Matchroom’s biggest names include Anthony Joshua in boxing and darts world champion Luke Littler through the PDC tour.
Image Credit: Matchroom Boxing