The National Hockey League has recently signed a 10-year gambling data agreement with the sports betting data provider Sportradar, Sportico reported. Other than becoming NHL’s official betting data and streaming rights partner as well as its official media data rights and integrity partner, Sportradar will let the NHL purchase a number of shares.
The NHL Can Get Three Stacks of Shares for a Total of $90 Million
That will be true only if Sportradar’s upcoming initial public offering is successful. In that case, the hockey league can buy up to 2,127 common shares from the betting data provider. Each share will have a price of about $4,700 (rounded). Furthermore, the NHL will be able to buy up to 2,668 additional common shares for a higher price of $12,200 per share. Finally, the league will have the opportunity to purchase up to $30 million worth of shares during the public round itself. These numbers are taken from Sportradar’s F-1 SEC filing.
Both the National Hockey League and Sportradar refused to reveal NHL’s current plans and whether it plans to go all-in with the shares. If it does, based on its warrants and the IPO, the league can acquire all the proposed shares for $90 million. The total shares have an estimated valuation of around $6.5 billion.
Such a stake will mean that the league owns about 1.5% to 1.8% of Sportradar and will put the NHL among the several United States sports leagues that are major Sportradar shareholders. Both the National Football League and several representatives of the National Basketball League have Sportradar equities.
The Partnership Agreement Puts Sportradar as NHL’s Official Data Partner
As mentioned, the original deal will see Sportradar as NHL’s official betting data and streaming rights partner as well as its official media data rights and integrity partner. The agreement was signed in June 2021 and will see the two parties work together for the next decade.
Through this deal, Sportradar will help the league deepen its engagement with fans. The betting data firm and the NHL will put some hard work into polishing the league’s official feed and make it as appealing as possible to bookmakers and media companies.
Sportradar will also serve as a watchman that closely follows the betting activity related to the NHL and will report any sign of potential fraud.
The deal is a culmination of NHL and Sportradar’s developed relations. The two parties have worked together on smaller occasions for the last six years. Now they will continue doing so by pushing sport and sports betting forward for the next decade.