NBA to take stake in Michael Jordan-backed sports data firm Sportradar

Sportradar AG

17/11/2021 16:01

Nov 17 (Reuters) - The National Basketball Association (NBA)
will take a stake in Sportradar Group AG  SRAD.O  in exchange
for exclusive rights to NBA data, the sports betting data
company said on Wednesday.
    Sportradar's shares rose as much as 13.3% to $24.54 in early
trading, on course for their best session since the
Switzerland-based company went public in September.
    Michael Jordan-backed Sportradar provides software, data and
content through subscription and revenue share arrangements to
betting operators, sports leagues and media firms. Its customers
include DraftKings, Twitter  TWTR.N  and ESPN.  urn:newsml:reuters.com:*:nL4N2QM28K
 urn:newsml:reuters.com:*:nL4N2QG333
    The partnership with NBA, Women's National Basketball
Association (WNBA) and NBA G League begins with the 2023-24 NBA
season, making Sportradar the exclusive provider of NBA data
globally, including distribution rights for player tracking
data.
    So far this year, Sportradar has signed data rights deals
with Union of European Football Associations, International
Cricket Council and the National Hockey League.
    Sportradar also reported a third-quarter revenue of 136.8
million euros ($154.65 million) on Wednesday, above analysts'
average estimate of 133.5 million euros, according to IBES data
from Refinitiv.
    

($1 = 0.8846 euros)

 (Reporting by Chavi Mehta in Bengaluru; Editing by Devika
Syamnath)
 ((Chavi.Mehta@thomsonreuters.com;))