Sportradar Revamps Leadership Framework, Reaffirms 2023 Projections

Sportradar Group has unveiled a revamped leadership framework as part of a comprehensive effort to streamline its global operations.

The new organizational structure is in effect immediately and encompasses six distinct operating divisions within the Sportradar enterprise.

Warren Murphy, previously the Chief Product Officer, assumes the role of Chief Delivery and Operations Officer, overseeing product delivery and operations. This division consolidates and centralizes content, product development, and engineering functions.

Nick Mevawald, formerly the Chief Content Officer, takes on the position of Chief Growth and Innovation Officer, responsible for driving growth and innovation. Edward Bronk, the Chief Commercial Officer, will spearhead commercial operations, encompassing sales, customer support and care, sports partnerships, marketing, and communications.

Furthermore, Lynn McCrea, the Chief Administrative Officer, Chief Legal Officer, and Corporate Secretary, will oversee legal, risk, and administrative services. Séverine Rivière-Guestern will serve as Chief Human Resources Officer, leading the human resources department, and Gerard Griffin will head financial operations.

However, Griffin’s tenure will be brief, as he has informed Sportradar of his resignation for personal reasons.

Griffin will stay on as the Chief Financial Officer until the end of May, or until a replacement is found, whichever comes first.

Ulrich Haeusler, the Chief Strategy Officer, has also departed Sportradar. Sportradar stated that Haeusler is leaving the company to pursue new ventures.

Sportradar’s CEO: Changes will support future development
Sportradar’s CEO Carsten Koerl expressed enthusiasm for the new global organizational structure. He added that it will put the company in a better position for future development.

“This new global organizational and leadership framework aligns our teams around strategic priorities, encourages agile execution, and positions Sportradar for future growth,” Koerl stated.

“By centralizing our key business functions, we will drive greater cooperation and faster decision-making, enabling us to push further operational efficiencies and innovation across the business.

“These decisive actions will allow us to better serve our customers and partners and capitalize on the significant market opportunities ahead of us.”

Sportradar reaffirms 2023 projections
In addition to the organizational structure, Sportradar also reaffirmed its projections for the 2023 fiscal year.

This includes revenue of between €870 million (£745 million/$951 million) and €880 million, representing a 19% and 21% increase respectively from 2022. Adjusted EBITDA should be between €162 million and €167 million, representing a 29% and 33% increase respectively.

Sportradar has once again affirmed its anticipation of at least a 20% increase in revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the upcoming fiscal year.

Despite a significant 63.8% decrease in Sportradar’s ongoing operational profits during the third quarter, its revenue experienced a notable 12.4% rise, and adjusted EBITDA saw a substantial 38.3% growth. The profit for this period amounted to €4.6 million.

Over the initial nine months of 2023, profits from continuing operations reached €11.4 million, representing a decline of 73.8%. During the same period, revenue witnessed a notable 19.3% increase, and adjusted EBITDA experienced a significant 40.2% growth.

“I am certain that we have the appropriate leadership team in place, dedicated to executing our strategic goals,” stated Koerl. “For the current year, we remain on course to achieve robust growth targets and are well-prepared to maintain this momentum into the following year.”

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