Sportradar Executes $517.5 Million Secondary Public Offering
Deal News | Apr 25, 2025 | Paul Hastings
Sportradar Group AG, a prominent sports technology company known for creating innovative experiences for sports enthusiasts and gamblers, successfully navigated a $517.5 million underwritten secondary public offering. This significant transaction was facilitated by Paul Hastings LLP, the legal advisor representing Sportradar. The offering involved certain selling shareholders, and concurrently, Sportradar engaged in a share repurchase valued at $65.5 million. Key figures in this transaction include Goldman Sachs & Co. LLC and J.P. Morgan, who served as the lead book-running managers. This strategic move by Sportradar highlights its commitment to cementing its presence in the global sports technology arena. The legal advisory team from Paul Hastings was led by partners Yariv Katz and Colin Diamond, showcasing their expertise in Securities and Capital Markets.
Sectors
- Sports Technology
- Financial Services
- Legal Services
Geography
- United States – As Sportradar is listed on Nasdaq, this transaction primarily involves the U.S. financial markets.
Industry
- Sports Technology – Sportradar operates in the sports technology industry, providing innovative and immersive experiences for sports audiences, including fans and bettors.
- Financial Services – The secondary public offering and share repurchase activities involve financial services, particularly investment banking and securities management.
- Legal Services – Paul Hastings providing advisory services in the transaction falls under the legal services industry.
Financials
- 517.5 million – The total value of the secondary public offering by Sportradar.
- 65.5 million – The value of Sportradar's share repurchase concurrent with the offering.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sportradar Group AG | Target company | Company | A global sports technology provider facilitating unique experiences for sports fans and bettors. |
| Paul Hastings LLP | Legal advisor | Company | An international law firm with expertise in Securities and Capital Markets. |
| Goldman Sachs & Co. LLC | Lead book-running manager | Company | An investment bank leading the secondary offering process. |
| J.P. Morgan | Lead book-running manager | Company | A prominent investment bank involved in the offering management. |
| Yariv Katz | Partner, Securities and Capital Markets | People | Led the Paul Hastings team in advising Sportradar. |
| Colin Diamond | Partner, Securities and Capital Markets | People | Co-led the advisory team handling the Sportradar offering. |