First, let’s address the elephant in the room. Why was Michael Jordan ringing the bell on IPO day? Well, Michael Jordan, Dallas Mavericks owner Mark Cuban, and Monumental Sports CEO Ted Leonsis — the owner of the NBA’s Wizards, the NHL’s Capitals, the WNBA’s Washington Mystics, and more — invested $44 million in the Swiss company in 2015. Keep in mind; sports betting didn’t even get legalized in the United States until the Supreme Court ruled PASPA unconstitutional in 2018, paving the way for states to self-regulate retail and online sports betting. But the early bet has paid off tremendously. Sportradar covered about 325,000 live events at the time of the investment but now covers about 750,000 events annually, providing data analytics and other technology services to 900 sports betting operators and 350 media companies.
The valuation at the time of their investment wasn’t disclosed, but Sportrader revealed in 2018 that the business was worth $2.4 billion. Given they invested three years prior, they likely came in at a significantly lower number, but still, even at that number, their $44 million would be worth nearly $150 million today. There’s nuance to this, of course. We don’t know if they invested additional capital, were diluted through later rounds, etc., but you get the point — Michael Jordan, Mark Cuban, and Ted Leonsis all made significant money on the deal. Sportrader Valuation: 2018: $2.4 billion. 2021: $8 billion (+233%). But here’s the interesting part: Sportrader did nearly $500 million in sales last year, but just 11% of that came from the U.S. market, where they are already the largest provider of data to sportsbooks.
September 16, 2021 | 12:35 pm EDT Update
The Cairns Taipans have announced that high-flying import Cameron Oliver will not be returning to the NBL this season, and instead accept an Exhibit 10 contract in California. The club originally signed Oliver with the intentions of providing him with a pathway to a higher level and are thrilled that he is one step closer to the NBA. After a stellar debut with the Taipans, Oliver committed to a new two-year deal in 2020. His second season with the club was cut short due to family reasons, which the club accepted and provided him with a release to return home to the US. He received a 10-day contract with the Houston Rockets towards the end of the 2020-21 NBA season and in August suited up for the Golden State Warriors at Summer League.
“This is such a positive outcome. Cam said that he has never felt this close to his NBA dream, and this is exactly what we want. It speaks volumes of the Taipans organisation because they took a chance on him and look where he is now,” said Coach Forde. “I came into this role knowing that Cam was on the fringe of the NBA – so we have been diligently planning for this possibility and it’s fortunate it’s at this time, during the pre-season. We’ve been prepared for all scenarios but now we can progress forward with certainty. “I’m so happy for him, the team are extremely proud of him and now we get to move forward, sign another talented player and focus on winning a Championship for Cairns.”
Garza, who was the 52nd overall pick, was named to the All-Summer League second team after averaging 15 points, 9.6 rebounds, 1.8 assists and one blocked shot in five games with the Pistons. He finished off his stay in Las Vegas with his best game, recording 21 points and 15 rebounds. According to Ian Begley of SNY, the Pistons are expected to convert Garza’s two-way contract to a standard NBA deal prior to the start of the season. Detroit would then have an open two-way spot they could use to sign an additional player.
Scott Agness: The Pacers have applied for the NBA’s Disabled Player Exception, league source told @FieldhouseFiles. It would allow them to add another player after guard Edmond Sumner had surgery this week to repair a torn left Achilles.
What is your take on the Zach LaVine FA rumors in 2022? How realistic is it for the Celtics financially and roster wise? Thanks, Jeff. Brian Robb: LaVine is a name that has been floated for a little bit as a potential target for Boston if Bradley Beal elects to stay put in Washington. His age and position do line up fairly well among Boston’s current group, however, there are some significant obstacles in any pursuit of the shooting guard during the next year.
A potential Celtics free agent target could be Chicago’s Zach LaVine, who is entering the final year of his contract. He will have to prove he can lead the Bulls to the playoffs before a contract extension. LaVine changed representation recently and signed with Klutch Sports, which is usually the move for players who want to maximize their free agent potential. LaVine, 26, just coming off helping Team USA to the gold medal, will ask for a maximum contract in the open market. The Olympic experience may have enhanced LaVine’s value because he was asked to be a three-and-D player, sparking the Americans with his full-court defense and ability to run the floor. In the case that Bradley Beal decides to stay in Washington, LaVine could be the Celtics’ No. 1 target. The Bulls, who added DeMar DeRozan and Lonzo Ball in the offseason, have full intentions to be a factor in the Eastern Conference .