Reports Suggests Canelo Alvarez & Anthony Joshua’s Promoter Eddie Hearn Might Become $215 Million Richer
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via Reuters
Boxing – Kid Galahad v Kiko Martinez – IBF Featherweight World Title – Utilita Arena Sheffield, Sheffield, Britain – November 13, 2021 Promoter Eddie Hearn after the fight Action Images via Reuters/Andrew Boyers
Matchroom boxing promotions CEO and boxing promoter Eddie Hearn is set to make a huge fortune as reports have come out that the Brtish promoter is in talks to sell a minority stake of his company.
Boxing analyst, Michael Benson, took to Twitter to announce that Hearn and his father are reportedly in talks with a private equity firm to sell a minority stake of Matchroom as he tweets,”Eddie Hearn and Barry Hearn are reportedly in talks with private equity firms to potentially sell a minority stake of Matchroom. It’s claimed deal could value Matchroom at £600m-£700m and see the Hearns receive around £175m if they opt to sell 25%.”
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Eddie Hearn and Barry Hearn are reportedly in talks with private equity firms to potentially sell a minority stake of Matchroom. It’s claimed deal could value Matchroom at £600m-£700m and see the Hearns receive around £175m if they opt to sell 25%. [According to @SkyNews]
— Michael Benson (@MichaelBensonn) June 25, 2022
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If this deal goes through Hearn will add a whopping $215 million to his networth. Incredibly, this will be one of the biggest mergers in boxing history and could have a huge impact on the future of the sport.
A look at the career of Eddie Hearn
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Hearn has been a prominent part of boxing since he joined Matchroom and currently promotes some of the best boxers in the world like Canelo Alvarez, Anthony Joshua, and Oleksandr Usyk. His company also struck a deal with streaming service DAZN to stream their fight on the platform across the United States back in 2018. The deal was estimated to be around $1 billion dollars making it the first billion-dollar deal in boxing.
via Getty
MANCHESTER, ENGLAND – NOVEMBER 09: Eddie Hearn smiles as he speaks to the media during the Joseph Parker and Derek Chisora Press Conference in Manchester, England. (Photo by Lewis Storey/Getty Images)
Hearn has also promoted some of the highest-grossing fights in boxing including Carl Froch vs. George Groves 2 in 2014 and Anthony Joshua vs. Wladimir Klitschko in 2017 with 80,000 and 90,000 fans in attendance respectively. Moreover, Hearn will promote two of the biggest fights this year, with the rematch between Oleksandr Usyk and Anthony Joshua in August and the much-anticipated trilogy fight between Canelo Alvarez and Gennady Golovkin in September. Matchroom has seen great success under Hearn and this deal will certainly add to his still-growing legacy.
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