Sportradar Group AG shares rose 13% to $24.60 in premarket trades on Wednesday after the company said it inked a new data partnership agreement with the National Basketball Association (NBA). The deal provides the NBA with an undisclosed equity stake in Sportradar. The multiyear partnership agreement that will see the NBA, Women’s National Basketball Association (WNBA) and NBA G League use Sportradar to grow U.S. operations, increase their international footprint and drive fan engagement starting with 2023-24 NBA season, the company said. The agreement maintains Sportradar as the exclusive provider of NBA data worldwide. The company will continue to be the authorized global distributor of official NBA and WNBA betting data and the distributor of live game video for international sports betting operators. The deal includes expanded distribution rights regarding the use of player tracking data. Sportradar CEO Carsten Koerl said the agreement with the NBA “will contribute to Sportradar’s profitable business and continued growth.” Scott Kaufman-Ross, senior vice president, head of gaming and new business ventures led the deal for the NBA.
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