Sky News has learnt that a period of exclusive negotiations between Matchroom Sport and CVC has concluded after the two sides were unable to agree on a price
This week, the elder Mr Hearn appeared at Sheffield's Crucible Theatre alongside the first winner of the World Snooker Championship from mainland Europe, the Belgian Luca Brecel.
Sources said that a deal between CVC and Matchroom would have valued the sport's promoter at roughly £700m, while the Hearns believe it is worth £100m more than that figure. The owners of Manchester United FC, for example, could agree a world record price for a football club in the coming days. The Hearns are understood to have no intention of relinquishing control of Matchroom, which also has a substantial presence in sports such as darts and pool.
In 2021, Matchroom struck a global deal with the sports streaming platform DAZN, adding to a reported $1bn tie-up in 2018 that saw DAZN agree to show Matchroom's fights in the US.
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