Michael Jordan raises stake in sports gambling data company Sportradar
FILE PHOTO: Former basketball great Michael Jordan arrives to attend a party celebrating the 30th anniversary of the Air Jordan shoe line in Paris, France June 12, 2015. REUTERS/Gonzalo Fuentes
(Reuters) -Basketball great Michael Jordan will increase his investment in Sportradar Group AG and will serve as a special adviser to the company's board, the sports gambling data company said on Monday.
The company's shares rose 3.4% in extended trading.
Switzerland-based Sportradar went public last week via the initial public offer route after abandoning plans for a merger with a special purpose acquisition company earlier this year.
The company did not provide details regarding Jordan's increased stake but said his advisory duties will revolve around the U.S. market, product development and marketing activities.
Jordan, a six-time NBA champion with the Chicago Bulls in the 1990s, was an early investor in Sportradar. He also joined sports-betting firm DraftKings as a special adviser in September last year.
Sportradar provides software, data and content through subscription and revenue share arrangements to sports leagues, betting operators and media firms. Its customers include DraftKings, Twitter and ESPN.
(Reporting by Uday Sampath in Bengaluru; Editing by Krishna Chandra Eluri)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Maxim Group Starts The Lovesac Co. (LOVE) at Buy
- FireFly Neuroscience Announces Healthcare Science and AI Industry Leader David DeCaprio to Join Board of Directors (WAVD)
- Noodles & Company (NDLS) Welcomes New Franchise Partner, DND Group, Inc., with Plans to Open 10 Locations in Oregon by 2030
Create E-mail Alert Related Categories
General News, ReutersRelated Entities
Twitter, Definitive Agreement, SPACSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!