NBA Will Gain Equity in Sportradar
World-renowned sports data supplier Sportradar has announced a landmark partnership with the National Basketball Association (NBA). The partnership will see it become the exclusive data provider to the NBA, in addition to the Women’s National Basketball Association and NBA G League. The NBA will now purchase 3% of the outstanding shares in Sportradar for $0.01 each.
Sportradar has announced a landmark partnership with the National Basketball Association (NBA). In return, the NBA can now purchase 3% of the outstanding shares in Sportradar for $0.01 each. ©tommyvideo/Pixabay
Multi-Year Deal Continues Partnership Started in 2016
Global sports data provider Sportradar has revealed a brand-new exclusive partnership deal with the National Basketball Association (NBA) in the US. As a result of the deal, Sportradar will now become the exclusive data provider for the NBA. It will also provide its services to the Women’s National Basketball Association and NBA G League.
In exchange for partnering with Sportradar, the NBA now gains the opportunity to receive warrants to purchase 3% of the outstanding shares in Sportradar for $0.01 per share. The multi-year deal, however, doesn’t come from nowhere, extending a partnership between the two that actually began in 2016. It is currently set to begin at the start of the 2023-24 NBA season.
Furthermore, Sportradar will also become both the authorized global distributor of official NBA and WNBA betting data, as well as the distributor of live game video that is available to international sports betting operators for fans in real-time.
CEO of Sportradar Carsten Koerl celebrated the occasion by remarking that basketball is the most popular US-based sport across the globe, while also touting the technology provider’s market leading position:
“We are delighted that the NBA has chosen Sportradar as the official partner who can support the global popularity and explosive growth of the game. Basketball is the largest US sport in the world by popularity and, as a market leader, we are best positioned with the technological expertise and industry relationships to help the NBA entertain fans globally. We believe that this agreement will contribute to Sportradar’s profitable business and continued growth. The remaining time left on the existing deal, and this new multi-year agreement, gives us significant runway to partner with the NBA and develop exciting solutions across our teams, betting and sports entertainment verticals.”– Carsten Koerl, CEO, Sportradar
NBA Deal is Latest in Line of Sports Partnerships for Sportradar
It’s been a busy year in sports partnerships for Sportradar, with its recent NBA deal coming not long after similar deals with the Union of European Football Associations (UEFA) and the International Handball Federation.
Scott Kaufman-Ross, who is the senior vice president, head of gaming and new business ventures at the NBA, praised Sportradar’s market data capabilities, calling it a reliable partner as the league ventures into the world of sports betting:
“Sportradar has been a terrific partner as the league has navigated its exploration into the global sports betting landscape. As the market matures, we are thrilled to extend our partnership with Sportradar to utilise data and insights to create new fan experiences and innovate around the NBA globally.”
Sportradar continues to expand heavily into the US market, following a strong third quarter 2021 performance providing the company’s financial results with a strong boost. The technology provider recorded revenue figures of €136.8 million ($158.7m/£115.1m) for the third quarter of 2021, which stands as a 29.9% increase on the same period last year.
Michael Jordan Joined Sportradar in Advisory Role in September 2021
A huge boost to Sportradar’s brand arrived in September 2021, when it was revealed that basketball legend Michael Jordan would be joining the company as a special advisor to its board of directors, with a specific focus on the US sports betting market.
The Swiss-based provider also clarified that Jordan would be increasing his level of investment in the provider, while simultaneously offering strategic counsel to the board. The 58-year old sports legend also occupies a similar role at major sportsbook operator DraftKings.
The chairman of the global board of directors at Sportradar, Jeffery Yabuki, emphasized that Jordan holds a sincere belief in the technology provider’s overall goals and mission:
“Not only is Michael Jordan one of the most iconic sports figures of all time, but he is a legendary leader who believes in Sportradar’s mission to enhance fan engagement through our fully-integrated technology and services platform. We are thrilled to have Michael contribute to Sportradar’s business efforts moving forward.”– Jeffery Yabuki, Chairman of the Global Board of Directors, Sportradar
Sportradar Signed Deal with Jets & Ravens in May
As previously mentioned, the US division of Swiss-based sports data supplier Sportradar has been signing exclusive sports partnership deals left and right in 2021, clinching to landmark deals with two major NFL franchises, the New York Jets and the Baltimore Ravens, back in May 2021.
Similar to most of its agreements with sports franchises, this deal will involve Sportradar providing its renowned sports betting marketing services to the Jets and the Ravens. The goal here is to help both teams develop and refine their affiliate marketing plans, sponsorship programs, and marketing strategies for their legal sports betting partners.
The New York Jets’ vice president of business development and ventures Jeff Fernandez sure sees promise in the teams’ partnership with Sportradar, believing its top of the line data solutions will optimize the performance of the Jets’ legal sports betting partners:
“The ability to engage, acquire, convert and retain customers in this super competitive and rapidly growing space is of the highest priority for operators. Sportradar’s proprietary technology and expertise in reaching sports bettors via predictive analytics will be extraordinarily valuable to Official LSB Sponsors of the Jets.”
