The package Segev has been offered, while undisclosed, was eye-watering enough to cause Entain chair Barry Gibson to say simply: “We cannot match the rewards that he has been promised.”
DAZN’s initial focus was on fighting, but its coverage has broadened out as it roams the world spending billions to acquire elite sports rights, on everything from football, Formula One, sailing and table tennis to baseball, basketball and beach volleyball in an effort to take on established television networks.
But the global shutdown of most sports has hit hard, and it was forced to cut dozens of staff in the US and Brazil last year, and brought in Goldman Sachs to explore financing options.
Canelo, 30, was among those to part ways: having not been able to fight since November 2019 amid reported disagreements over opponents and salary, he is understood to have been released from his contract last month.
While the loss of one of boxing’s biggest stars was clearly a setback, DAZN has been quick to pick itself off the ropes with Segev’s appointment to drive forward its ‘next chapter’.
Segev himself insisted “the recent interest from MGM Resorts has had absolutely no bearing on my decision” and that he fully supported the Entain board’s decision to reject the offer.
“I will be sad to leave the company after five years but I have been offered a role which offers me a very different type of opportunity,” he said.
John Skipper, DAZN Group executive chairman, said: “In Shay, we’re adding depth and fresh expertise to the team. He is recognised as one of the leading figures in online gaming and brings vast technology and operations experience to the role as well as an impressive track record in digital transformation."
Shares in Entain were meanwhile trading 27p or 1.9% lower at 1,447.60 pence this afternoon as analysts suggested Segev’s departure increased the likelihood of MGM’s bid - which was dismissed by the board as "significantly undervalued" - eventually proving successful.
