Stars Group big hitters acquire significant stake in US media sports brand

Fox Bet CEO Robin Chhabra has invested in digital sports media firm Futbol Sites Network Group (FSN) alongside former Stars Group big hitters Jordan Gnat and Andy Clerkson.

The investment figure remains undisclosed, although it is understood the executives acquired a “significant interest” in the US and Latam-facing media group.

As part of the investment, FSN confirmed the appointment of Gnat as vice chair of the business, with the trio targeting expansion and growth into new markets.

“Businesses are premised on their people and the team at FSN are second to none,” said Gnat. “The platform that has been built is rock solid and we look forward to working with the team to maintain the strong growth in Latam, the USA and beyond,” he added.

Incoming FSN vice chair Gnat previously served as SVP of The Stars Group (TSG) for two years between July 2018 and the completion of the merger with Flutter Entertainment.

Chhabra currently serves as CEO of Fox Bet following the multi-billion-pound merger between TSG and Flutter Entertainment, which concluded last month.

FOX Bet CEO Robin Chhabra

Former Grand Parade founder Clerkson serves as an adviser to the Fox Bet business and is also chairman of free-to-play firm SportCaller.

FSN is focused on Latin America and the US with offices in Argentina, Brazil, Colombia, Chile, Mexico and the US. The business was founded by Argentinian businessmen Federico Grinberg and Nahuel Pan in 2008.

The digital media firm owns and operates 10-plus sports websites, receiving 60 million unique monthly visitors and more than 300 million unique monthly visitors to its social media channels.

FSN co-founder and CEO Grinberg welcomed the new investment as a tribute to the work and growth the company had undergone since its establishment in 2008, saying it would allow the firm to reach the next level.

“Having these three superstars of the industry as investors, as well as Jordan joining our Board, will not only help FSN expand its network and reach, but also allow us to take the company to the next level, leveraging their shared knowledge and advice, and consolidating FSN as a global group synonymous with digital sports content,” Grinberg added.