The Sportradar Group has been leading the way in the field of global sports technology for some time, but its recent announcement could mean a real shake up for the company.
Sportradar, which specializes in creating immersive experiences for sports fans and bettors, revealed a number of new strategic actions, designed to streamline its structuring and drive innovation. The changes are being undertaken with a focus on clients and partners, and aim to propel long-term growth, profitability, and shareholder value.
Already covering more than a million events annually, across all of the most popular sports, Sportradar now hopes to redefine the sports fan experience.
The company is partnered with organizations like the ATP, NBA, NHL, MLB, NASCAR, UEFA, FIFA and Bundesliga, and responsible for the analysis of a mind-boggling amount of data, which is gathered and examined on behalf of bookmakers, national and international sports federations, and media companies.
New corporate structure
Under the new organizational structure, Sportradar will have six key business functions. Chief Administrative Officer Lynn McCreary will oversee legal, risk and administrative services. Chief People Officer Severine Riviere-Gerstner will look after the staff that make it all happen, while Chief Financial Officer Gerard Griffin will oversee the finance department.
“I am excited to announce this new global organization and leadership structure, which aligns our teams on our strategic priorities, promotes agile execution and better positions Sportradar for future growth," Carsten Koerl, CEO of Sportradar, said in a release.
"These decisive steps will enable us to better serve our clients and partners as well as capture the significant market opportunities ahead of us. I am confident we have the right leaders in place, intently focused on executing on our strategic priorities.”
Griffin is due to leave the company, for personal reasons, following the appointment of a new successor. Sportradar has already commenced the search for its next CFO.
Sportradar reported $211.8 million in revenue in Q3 2023 and the company is targeting adjusted EBITDA growth of at least 20% in 2024.
