Sportradar Announces Secondary Offering of 23 Million Shares and $75 Million Share Buyback
Sportradar Group AG announced a secondary public offering of 23 million Class A shares on behalf of the Canada Pension Plan Investment Board, Technology Crossover Ventures, and CEO Carsten Koerl.
The company, valued at $6.9 billion, will also repurchase 3 million of its own shares from the underwriters for up to $75 million as part of its $200 million share repurchase program.
Key Offering Terms
The offering is being made pursuant to an already filed registration statement, including a preliminary prospectus submitted to the U.S. Securities and Exchange Commission (SEC).
Goldman Sachs and J.P. Morgan are acting as joint bookrunners. The company is not selling any of its own shares and will not receive any proceeds from the offering.
Deal Participants
- Canada Pension Plan Investment Board
- Technology Crossover Ventures
- Sportradar CEO — Carsten Koerl
Buyback Details
Sportradar has approved the simultaneous repurchase of 3,000,000 shares from the underwriters at the same price as in the offering.
The transaction will be funded with existing cash and is part of the $200 million buyback program. The maximum amount for the current buyback is $75 million.
Company Financials
The company is releasing preliminary results for the first quarter of 2025:
| Metric | Value |
|---|---|
| Revenue | $328–333 million |
| Net Income | $21.4–25.7 million |
| Adjusted EBITDA | $59.9–62 million |
2024 Results and Future Goals
For the full year 2024, the company reported revenue of €1.1 billion ($1.2 billion), a 26% increase compared to the previous year. Sportradar continues to grow and has set a goal to reach $1.84 billion in revenue by 2027.
According to analysts, the company is confidently moving toward this target thanks to its extensive client base of over 2,100 partners and long-term contracts in the sports, media, and betting sectors.
About Sportradar
Founded in 2001, Sportradar specializes in sports technology, working with sports organizations to provide business growth solutions. It also focuses on competition integrity through its Integrity Services division.