Sportradar and MLB extend and expand existing partnership

The world's leading sports technology company, Sportradar Group AG, announced it expanded and extended its agreement with Major League Baseball (MLB).

Confirmation about the new deal emerged Friday, continuing the duo's successful partnership which dates back a decade.

MLB and Sportradar continue their successful collaboration

The new long-term extension and expansion of the agreement between Sportradar and MLB is expected to kick off with the 2025 season.

Per the deal, the company will exclusively distribute the League's ultra-low latency official data, as well as media content.

This will include AV content, MLB Statcast Data, which will benefit some 900 media companies across the globe and 800 sports betting customers of Sportradar.

The constant expansion of legal sports betting, as well as the growing popularity of MLB competitions in markets such as Asia and Latin America, will help utilize MLB data and content. This is ultimately going to benefit not only the League but Sportradar as well.

In a press release, Sportradar explained that considering the rights and benefits of the new agreement, the company will "pay the applicable annual license fees and MLB will be issued up to an aggregate of 1,855,724 Class A ordinary shares during the term, subject to customary terms, conditions and adjustments."

The landmark partnership expansion brings excitement to the duo

Carsten Koerl, Sportradar's Chief Executive Officer, revealed that the company is delighted to continue its long-term and successful collaboration with the MLB.

The executive added that the newly extended and expanded exclusive agreement takes the business relationship between the duo to a new level.

"Our collaboration is not only about leveraging cutting-edge technology and content but also working together to create innovative products that enhance fan engagement and bring fans closer to the game," Koerl added.

Sportradar's Chief Executive Officer predicted that the new agreement would create exciting new opportunities for the company as well as the League.

Last but not least, Koerl said: "This deal, which is immediately accretive to our business, will drive value for our shareholders as we continue to expand margins and generate strong cash flow."

Kenny Gersh, MLB's Executive Vice President, Media and Business Development, added that Sportradar has been a great partner of the League, which is why it is excited to continue its collaboration with the company.

"Over the course of our partnership, Sportradar has consistently developed great products utilizing MLB’s best-in-class data," Gersh explained.

Finally, the executive said that the MLB will continue to deliver innovative products with the help of Sportradar, to engage with fans of the sport across the globe.

As acknowledged by the two executives, the extended agreement will see the duo join forces and deliver new products.

Those products are going to stand out with innovation as they will be AI-driven, and help deliver unrivaled fan experiences.

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