Matchroom sells minority stake to US investment firm Bruin Capital

Sports promotional company Matchroom has announced that it has sold a minority stake to a US investment firm. Monday morning brought the news that Bruin Capital had acquired a 15 per cent stake in Matchroom, which is predominantly known for its boxing , darts and snooker events. Based in Essex, Matchroom is run by father-and-son duo Barry and Eddie Hearn , the former of whom started the business in 1982.

Matchroom leaders Barry (left) and Eddie Hearn (Getty) A press release read: “The Hearn family will retain majority ownership and continue to oversee the business, with Eddie Hearn serving as Group Chairman and Barry Hearn as Founder and President. “Financial terms were not disclosed. Bruin will join Matchroom’s board of directors.

” A report by the Financial Times suggested that Matchroom is currently valued at more than £1bn, which tallies with comments made in last year’s Netflix documentary Matchroom: The Greatest Showmen . That would put the estimated value of Bruin’s stake in the region of £150m. One section of that docu-series focused on a potential sale of Matchroom to Saudi buyers.

Ahead of the show’s release, Barry Hearn told The Independent that a minority stake was up for grabs. When asked whether his family could ever fully let go of Matchroom, he said coyly: “It has to depend on the price. ” And Barry, 77, told the Financial Times this week: “Cash is nice – the kids can have that, the grandchildren can have that.