March 24 – Sportradar has acquired IMG Arena’s portfolio of sports betting rights increasing its coverage of tennis, football and basketball.
No money will be paid for the rights.
Instead Sportradar said the transaction provides financial consideration totalling $225 million comprised of $125 million paid to Sportradar and up to $100 million cash prepayments made by Endeavor (IMG’s parent company) to a number of the sports rightsholders.
The portfolio of rights covers 70 rightsholders and about 39,000 official data events and 30,000 streaming events across 14 global sports on six continents. Properties include Major League Soccer in the US as well as tennis grand slam events Wimbledon, U.S. Open, and Roland-Garros, as well as EuroLeague basketball and the PGA Tour.
Carsten Koerl, Chief Executive Officer of Sportradar, stated: “Sportradar’s success is driven by the breadth of its sports coverage, its broad product portfolio and leading technology, and its global distribution network.
“Given our proven track record of maximizing ROI through our global betting rights deals and our strengthened position across tennis, basketball and soccer, we are confident in our ability to realize the full economic potential of this portfolio. In addition, the unique structure of this transaction accelerates our revenue and cash flow profile and will be immediately accretive to our margins. The addition of these strategic rights will unlock new growth opportunities, enabling us to deliver exceptional value to our partners, clients and shareholders.”
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