The National Basketball Association will take a stake in Sportradar Group AG in exchange for exclusive rights to NBA data, the sports betting data company said this week.
Sportradar’s shares rose as much as 13.3% to $24.54 in early trading, on course for their best session since the Switzerland-based company went public in September.
Backed by NBA legend Michael Jordan, Sportradar provides software, data, and content through subscription and revenue share arrangements to betting operators, sports leagues, and media firms. Its customers include DraftKings, Twitter, and ESPN.
The partnership with the NBA, Women’s National Basketball Association, and NBA G League begins with the 2023-24 NBA season, making Sportradar the exclusive provider of NBA data globally, including distribution rights for player tracking data.
So far this year, Sportradar has signed data rights deals with the Union of European Football Associations, International Cricket Council and the NHL.
Sportradar also reported a third-quarter revenue of $154.65 million on Wednesday, above analysts’ average estimate of $151.5 million, according to IBES data from Refinitiv.