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Michael Jordan raises stake in sports gambling data company Sportradar

Published 09/20/2021, 04:38 PM
Updated 09/20/2021, 05:07 PM
© Reuters. 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.

© Reuters. FILE PHOTO: Former basketball great Michael Jordan delivers a speech as he attends a party celebrating the 30th anniversary of the Air Jordan shoe line in Paris, France June 12, 2015. REUTERS/Gonzalo Fuentes

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 (NASDAQ:DKNG) 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 (NYSE:TWTR) and ESPN.

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