HomeFinanceNHL Buys US$10 million in Sportradar Shares

NHL Buys US$10 million in Sportradar Shares

NHL purchases sportradar stock

NHL Buys US$10 million in Sportradar Shares

The National Hockey League (NHL) has purchased more than $US10 million in Sportradar shares, but opted to forego other options worth US$30 million.

As part of their 10-year data and streaming deal, which started in July last year, the league received three different equity options, worth 1.8% of the company.

According to a Sportradar filing, the NHL has decided on two of the three equity options, with the third giving the league the chance to buy 1.35 million shares at US$23.45.

Additionally, in October, the NHL bought 1.2 million Sportradar shares at a price of US$8.96, giving the league 0.4% of the company.

According to Yahoo! Sports, data feeds have become one of the most direct ways to enter the sports betting market in the US, with long-term non-broadcasting deals being some of the biggest.

Sportradar has already expanded into the NFL with the deal including US$450 million in stock and the NBA, which can purchase up to 3% of the company’s equity.

Commenting on US betting market, Sportradar CCO, Eduard Blonk, told Yahoo! Sports: “The U.S. betting market is still in its early innings.”

“Our significant investments have helped us develop a strong market position and make the U.S. business our fastest growing region with 108 percent growth year-over-year, despite only accounting for less than 15% of Sportradar Group’s revenues.

“Globally, Sportradar has a well-established business that is fast growing and highly profitable,” he said.

The report comes after Sportradar launched an integrity exchange to further engage bookmakers in the company’s anti-match fixing efforts.

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