Sportradar to acquire IMG Arena from Endeavor
Supplier snaps up extensive sports betting rights portfolio, with Endeavor paying Sportradar $125m to take the asset on
Sportradar has entered a definitive agreement to acquire IMG Arena and its global sports betting rights from Endeavor in a deal worth $225m (£173.3m).
However, the supplier will not have to pay to acquire the assets. Instead, $125m will be paid to Sportradar by Endeavor and up to $100m in cash prepayments will be made by Endeavor to certain sports rightsholders.
The New York-listed business said the deal would strengthen its “already robust balance sheet and enhance its significant liquidity position”.
The company confirmed IMG Arena’s existing portfolio includes relationships with 70 rightsholders and covers around 39,000 official data events as well as 30,000 streaming events across 14 sports.
Standouts in the existing package including Tennis Grand Slam events Wimbledon, the US Open and the French Open, as well as MLS and the PGA Tour.
Other rights include the UFC, Euroleague Basketball and Concacaf.
Sportradar said the additions would be immediately accretive to the group’s adjusted EBITDA margins, as well as boost revenue.
Sportradar stated: “Adding these betting rights to its content portfolio increases Sportradar’s depth and breadth in key global sports, expanding the company’s content distribution and further fuelling product development.
“With its highly scalable technology platform and extensive client network, Sportradar will seamlessly integrate and monetise these rights driving incremental value for clients, partners and shareholders.”
The transaction is expected to close in Q4 2025, subject to standard closing and regulatory approvals.
During the process, UBS Swiss Financial Advisers will act as Sportradar’s exclusive financial adviser and Brandl Talos as transaction counsel.
In November 2024, Endeavor had agreed to sell OpenBet and IMG Arena to OB Global Holdings, a management buyout group backed by Endeavor CEO Ariel Emanuel and OpenBet CEO Jordan Levin.
The deal was worth $450m, with Endeavor noting at the time that it would continue to market IMG Arena for sale to a third party during the sign-to-close period and after closing.
Carsten Koerl, Sportradar CEO, said: “Sportradar’s success is driven by the breadth of its sports coverage, its broad product portfolio and leading technology and its global distribution network.
“Given our proven track record of maximising ROI through our global betting rights deals and our strengthened position across tennis, basketball and soccer, we are confident in our ability to realise the full economic potential of this portfolio.
“In addition, the unique structure of this transaction accelerates our revenue and cash flow profile and will be immediately accretive to our margins.
“The addition of these strategic rights will unlock new growth opportunities, enabling us to deliver exceptional value to our partners, clients and shareholders.”
Alongside announcing the acquisition of IMG Arena, Sportradar also published its Q4 and full-year 2024 earnings.
Revenue for the last three months of the year increased 22% year on year (YoY to €307m (£258.2m), with adjusted EBITDA up 53% to €61m.
On a full-year basis, revenue rose 26% to €1.1bn. Adjusted EBITDA jumped 33% to €222m and net profit landed at €34m.
Looking ahead to 2025, the company is targeting revenue of at least €1.3bn, representing year-on-year growth of at least 15%.
On the adjusted EBITDA front, a minimum target of €281m has been earmarked, with adjusted EBITDA margin expected to expand by at least 200 basis points.
“The 2025 guidance does not include any impact from the pending acquisition of IMG Arena given the uncertainty around the timing of close. Guidance will be updated to incorporate the uplift resulting from this acquisition upon closing,” the firm noted.