Sportradar Group AG, a global leader in sports technology currently valued at $6.9 billion, has revealed plans for a secondary public offering of 23 million Class A ordinary shares.
Sportradar Announces Secondary Offering and $75M Share Repurchase
The shares are being offered by affiliates of the Canada Pension Plan Investment Board, Technology Crossover Ventures, and Sportradar CEO Carsten Koerl. Additionally, the underwriters have the option to acquire up to 3.45 million more shares from these selling stakeholders.
In addition, Sportradar has approved a concurrent repurchase of 3,000,000 Class A ordinary shares from the underwriters, priced at the same rate as the shares purchased from the Selling Shareholders in the Secondary Offering. That’s up to a maximum of $75 million based upon the completion of the Secondary Offering. This repurchase is part of the company’s ongoing $200 million share repurchase program, with the repurchase to be funded using available cash. It should also be noted that the company itself is not selling any shares and will not receive any proceeds from this secondary offering.
Goldman Sachs & Co. LLC and J.P. Morgan are acting as the joint book-running managers for the secondary offering. The offering is being conducted under a shelf registration statement filed with the US Securities and Exchange Commission (SEC), which became effective immediately upon filing. A preliminary prospectus supplement has also been submitted to the SEC.
Sportradar Positioned for Success
Founded in 2001, Sportradar operates at the crossroads of the sports, media, and betting sectors, collaborating with sports organizations and offering solutions to help expand their operations. Additionally, the company fosters integrity in sports through its Integrity Services division.
Considering the growth the company has recorded over the last year, its shares going public again should not be a big surprise. Last month, Sportradar published its FY24 results, which showed the company generated a revenue of €1.1 billion ($1.2 billion), up 26% year-on-year.
Sportradar has also shared its preliminary financial results for the first quarter of 2025.
The company anticipates revenue in the range of €307 million to €311 million (approximately $328 million to $333 million), with a projected net profit between €20 million and €24 million (about $21.4 million to $25.7 million). Additionally, adjusted EBITDA is expected to fall between €56 million and €58 million (roughly $59.9 million to $62 million).
However, the company’s ambitions do not stop here, as in a recent financial projections report, Sportradar said its 2027 target is $1.84 billion in revenue. Analysts have responded favorably to Sportradar’s long-term prospects, highlighting its extensive client network of over 2,100 partners and its key role within the broader sports ecosystem. While there are still many risks, analysts maintain that the company’s scale and long-term contractual agreements position it well to meet its targets for 2027.