Reports have emerged sports streaming platform, DAZN, is nearing a USD$800 million (AUD$1 billion) deal to purchase British broadcast platform, BT Sport.

The deal, which was first reported by Reuters, would see DAZN gain rights to broadcast the English Premier League and UEFA Champions League in the UK.

The news comes after it was originally reported DAZN approached BT Sport with a joint venture opportunity, before talks between the pair stalled in December 2021 due to difficulties securing agreements with rights holders and the distributors of BT Sport’s programming in Ireland and the UK, Sky and Virgin Media.

The report suggested Discovery INC is a close rival to the DAZN bid, but BT Sport is leaning closer towards the DAZN side, with DAZN likely to finalise an initial public offering with the London exchange following the purchase.

If DAZN purchased BT Sport, which Reuters reported could happen as early as this month dependent largely on signing off agreements with BT Sport’s rights holders and the ongoing discussions with Discovery, DAZN would have access to BT Sport’s current estimate of five million total viewing households.

DAZN, who currently holds 11 million subscribers, would largely expand its reach into the UK and Ireland through the purchase in preparation of its initial public offering, which was first reported in 2021 after the streaming platform was boosted by investment from billionaire investor, Len Blavatnik.