Simon Jordan has suggested the Hearns’ family business Matchroom has now reached a valuation close to £1 billion.
Matchroom was founded in 1982 in the snooker halls of Romford Essex by Barry Hearn, and has grown into arguably the biggest sports promotion company in the world with a portfolio in darts, boxing and pool.
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In particular, its growth in boxing has been staggering with son Eddie Hearn overseeing a phenomenal rise which has seen the company promote the likes of Anthony Joshua and Canelo Alvarez.
Sports marketing agency Pitch International recently acquired in a stake in the business, and talkSPORT pundit Jordan has now revealed that they did so at an overall Matchroom valuation of around £1billion.
“It’s a phenomenal business, they’ve built a phenomenal business,” Jordan said on White and Jordan.
“Someone I know has bought a piece of Matchroom. And the valuation they’ve bought it at is significant, really significant.
“Close to £1billion is the valuation.”
Things are seriously on the up for the family-run business, who have continued to look for ways to expand in recent years.
Boxing is booming for the company, particularly since the investment of Saudi Arabia, and Hearn’s new co-operation with rival Frank Warren.
Darts has also reached unprecedented levels of commercial interest, boosted by the arrival of teenage sensation Luke Littler.
It promises to be a bright future for Matchroom, and founder Barry Hearn has insisted it will continue to grow as time goes on.
“Well I mean we are after global domination, we want to dominate every market we are in,” Hearn told talkSPORT.com.
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“We own the darts, we own the snooker, we own the pool, we don’t own boxing as there is always a new kid on the block.
“But we used to do lots and lots, we have now grown up as a company and we now concentrate on getting our legacy sorted.
“We are one of the biggest sports promotional companies in the world, and particularly in darts we want to create them bigger than is bigger than golf.
“In our world ability is the only criteria, I just care what you do on the field of play. And my job is to give you that opportunity.
“I think we have a fantastic team, Eddie Hearn, Frank Smith, Emily Frazer.
“My job now is floating really, but we are very passionate abut what we do and financially it is good for us and our job is to continue to make it financially good for the people who participate.”