Reports: Sportradar Considers Going Public; Big Names Loom

Reports: Sportradar Considers Going Public; Big Names Loom

Sports data provider Sportradar is reportedly in talks to go public. The company has struck several key partnerships with all four major professional sports leagues, including the NFL, and its A-list investor roster includes the likes of Mark Cuban, Michael Jordan and Washington Wizards and Capitals owner Ted Leonsis.

Sportico reports that Sportradar would most likely forgo a traditional IPO and launch with a special purpose acquisition company. Also known as a blank-check company, an SPAC would launch an IPO in order to acquire a fast-growing company. This greatly speeds up the process for companies like Sportradar that are looking to go public quicker than the IPO process would allow for.

DraftKings took that route when it went public in a $3.3 billion deal with Diamond Eagle Acquisition Corp. in 2019. Diamond Eagle is an SPAC, and Sportradar is presumably looking for a similar company to launch via reverse merger.

RELATED: Q&A With Sportsradar’s Neale Deeley, VP of US Sales

The Swiss sports betting data provider has partnered with a host of betting operators like FanDuel and Penn National Gaming. Sportradar partnerships grant these operators valuable access to official data from the major sports leagues, including the NFL.

NASCAR has also relied heavily on its partnership with Sportradar to expand the sport’s betting appeal and function, with Sportradar distributing its live racing data.

Sportradar could partner with an investment group run by Harry Sloan and Jeff Sagansky, who oversaw the Diamond Eagle Acquisition Corp IPO. The duo also earlier this year launched a $600 million IPO with Flying Eagle Acquisition Corp, another blank check company that could potentially partner with Sportradar in a reverse merger, according to reports.

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