Andy Wright, CEO of Sporting Group, has issued a statement in the wake of the sale last week of the firm’s B2C brand, Sporting Index, to Spreadex.
Underlining the rationale behind the transaction, he commented: “Sporting Index has been an integral part of Sporting Group for over three decades, serving as a pioneer in spread and fixed-odds betting and earning a household name status in the industry. As CEO of Sporting Group, I believe it is important to provide additional insight into the strategic reasoning behind this transaction.”
According to Wright, the sale was not a new development. He said: “The decision to sell Sporting Index was a carefully considered strategic move that had been in development for some time. The remarkable growth and success of our B2B brand, Sporting Solutions, led us to recognize its potential as the cornerstone of our future growth strategy. Consequently, we made the strategic decision to channel all our attention, efforts, and resources into further advancing our position in the B2B space.”
The CEO also confirmed that under the terms of the deal, Sporting Group will retain Sporting Index’s technology and trading models. He noted: “It is crucial to underscore that, with the sale of Sporting Index, only the brand itself has changed ownership. The underlying technology, products, and, most importantly, our cutting-edge trading models remain firmly within the domain of Sporting Solutions.
“Our valued partners can rest assured that this transaction will not impact their operations and they can anticipate an unwavering commitment from us to deliver an exceptional service. Going forward, all of our resources will be focused on taking Sporting Solutions from strength to strength, ensuring it continues to thrive and provide the best-in-class solutions for which it’s known. We look forward to embarking on this new chapter.”