Michael Jordan Increases Stake In Sports Gambling Data Company

NEW YORK, NY —On Monday, Sportsradar, a Switzerland-based sports gambling data and content company, announced that Charlotte Hornets Chairman and NBA legend Michael Jordan will be increasing his investment in the company and will serve as a special adviser to the board of directors.

According to Reuters, Sportsradar, which went public on the NASDAQ stock market on Sept. 14, saw its shares rise 3.4 percent in extended trading after Monday's announcement.

In a release, Sportsradar did not give details about Jordan's increased stake. But the company said that in his advisory role, Jordan would provide the board and management with guidance and strategic counsel, with a focus on the US market, product development, marketing activities and other key business initiatives.

"Over the past several years, the worlds of fandom, sports betting and media have converged and, through his accomplishments on the court and in the boardroom, Michael sits at the intersection of these industries," said Carsten Koerl, global CEO of Sportradar. "As an early investor in Sportradar, Michael saw the potential in our company.

"We are thrilled to now tap into his entrepreneurial savvy and business acumen as we develop the next wave of solutions and offerings that will maximize engagement across sports."

To celebrate Sportsradar's first day as a publicly traded company on Sept. 14, Jordan joined the company's directors, executive team and lead investors in New York to ring the Nasdaq opening bell.

"I invested in Sportradar years ago because I believed in the vision and passion that Carsten (Koerl) and the rest of the team had for transforming the sports technology industry," Jordan said. "I am looking forward to having a formal role with the company as it begins its next chapter."

According to ActionNetwork.com, Sportsradar has official deals with the National Basketball Association and Major League Baseball, and it offers an integrity marketing service to both leagues and bookmakers, which can detect possible abnormalities that could be the result of fraud.

In addition to Jordan, other early investors in Sportsradar included Dallas Mavericks owner Mark Cuban and Washington Wizards and Capitals owner Ted Leonsis.