SBC News Voice of the Sports Betting Industry
Sportradar Group AG has introduced the next set of changes to its internal structure as part of a strategic development plan.
The goal is to build a business that is better suited to meet the needs of clients, partners, drive product innovation, and reach sustainability goals that allow for long-term growth, profitability and shareholder value.
A total of six business functions have been introduced to the new organisational structure.
First off, Product Delivery and Operations will act as a centralised hub for content management, product development and engineering. The branch will be led by Warren Murphy, who’s job title will be changed from Chief Product Officer to Chief Delivery and Operations Officer.
Moving on, the Growth and Innovation department will “facilitate a unified vision for identifying and capitalising on market opportunities” to ensure a steady growth strategy led by Nick Maywald – previously Chief Content Officer and now Chief Growth and Innovation Officer.
Commercial will take on Sportradar’s go-to-market strategy, which will combine sales, client services, sports partnerships, as well as marketing and communications to drive continuous revenue opportunities – with Chief Commercial Officer, Eduard Blonk, behind the wheel.
Carsten Koerl, CEO of Sportradar, commented: “I am excited to announce this new global organisation and leadership structure, which aligns our teams on our strategic priorities, promotes agile execution and better positions Sportradar for future growth.
“By centralising our key business functions, we will foster greater collaboration and faster decision making, enabling us to drive further operating efficiencies and increased innovation across our business. 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. For 2023, we remain on track to deliver on our strong growth targets and are well positioned to maintain that momentum into 2024.”
The three other departments – Legal, People, and Finance – will be led by Lynn McCreary, Severine Riviere-Gerstner, and Gerard Griffin respectively.
Griffin is expected to continue as a Chief Financial Officer until no later than 31 May, 2024, after which he will depart from the company due to personal reasons. Sportradar is currently looking for a successor, expected to be announced prior to Griffin’s departure.
Chief Strategy Officer Ulrich Harmuth has also informed that he will leave the company to pursue other endeavours.
Koerl continued: “I want to thank Ger for his contributions to Sportradar. He has meaningfully strengthened our finance team with a deep and talented bench that will continue to contribute to the Company as we look to drive growth and profitability into the future. We look forward to continuing to benefit from his leadership while we search for a permanent successor.
“I also want to thank Ulrich for his contributions to our company, clients and partners that have positioned Sportradar for continued success. For over a decade, he held various leadership roles, contributing to our growth. We wish him the best in his future endeavours.”
Sportradar has repositioned its 2023 fiscal revenue guidance from €870m to €880m, a 2% YoY growth. The fiscal 2024 outlook has also been rearranged to include a 20% growth across revenues and adjusted EBITDA.
The group flexed its muscles towards the end of 2023 by signing a major deal with US-facing operator BetMGM, together with a four-year extension of its NASCAR partnership.
