EQT Partners cashes out its minority stake in Sportradar
July 11, 2018 10:06 AM
by Robert Mann
Private equity firm EQT Partners has cashed out, apparently for a significant profit, its minority stake in Sportradar, the Swiss sports data provider that has several major U.S. sports teams owners and the NFL as investors.
The company provides sports data for bookmakers worldwide. According to Bloomberg, the deal values the company, at $2.4 billion.
The company said in a statement Monday that EQT had a 35 percent stake in Sportradar. The sale represents a return of more than four-times EQT’s initial investment, Bloomberg sources said.
Sportradar founder and Chief Executive Officer Carsten Koerl retains his majority stake in the business. Other investors include billionaire Mark Cuban of the Dallas Mavericks, Michael Jordan of the Charlotte Hornets and Ted Leonsis of the Washington Wizards and Capitals.