Gambling data company, Sportradar is set for a stock market float worth US$10bn, despite a major row with the English Premier League that is leading to legal action.
The Swiss gambling data company is lining up investment bankers to take it into the float on the New York Stock Exchange in early 2021. Michael Jordan, the famous former basketball player, is reported to be among those who will benefit from the launch as Sportradar’s current valuation is somewhere between $5bn and $10bn.
Sportradar, meanwhile, has started legal proceedings against Betgenius and Football DataCo, a joint venture between the English Premier League, Football League and Scottish Professional Football League. Betgenius was granted an exclusive licence to match data from Football DataCo, an arrangement Sportradar says is in breach of UK and EU competition law.
The legal action was started in March after Sportradar was excluded from collecting information. A spokesman for Football DataCo said that the matter had yet to be settled with ea hearing date not agreed.
Meanwhile, Genius Sports, the London-based parent of Betgenius is itself planning to float through a special-purpose acquisition company in a $1.5bn deal.
These decisions to go public are largely based upon the rapid expansion in the US gambling market that has seen sports betting in a burst of activity.
More details about Sportradar you can find out from HERE.
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