Sportradar Unveils New Organizational Structure for Enhanced Growth and Efficiency

Revolutionizing Success: Sportradar Unveils Its New Organizational Structure

Sportradar Group, a global leader in sports technology and data solutions, has recently unveiled a bold and strategic reorganization of its leadership and operational structure. This transformation, effective immediately, aims to streamline the company’s global operations, enhance collaboration, and drive innovation and efficiency across the board.

A Fresh Approach to Leadership

Under this new structure, Sportradar has divided its business into six key functions, each led by experienced and visionary leaders:

• Chief Delivery and Operations Officer: Warren Murphy, formerly the Chief Product Officer, will now oversee Product Delivery and Operations, consolidating content, product development, and engineering.
• Chief Growth and Innovation Officer: Nick Maywald, previously the Chief Content Officer, takes on this role with a focus on fostering Growth and Innovation.
• Chief Commercial Officer: Eduard Blonk will lead the ‘Commercial’ function, encompassing sales, client services, sports partnerships, marketing, and communications.
• Legal, Risk, and Administrative Services: Lynn McCreary, who currently holds positions as Chief Administrative Officer, Chief Legal Officer, and Corporate Secretary, will manage this vital segment.
• Chief People Officer: Severine Riviere-Gerstner will head the ‘People’ sector, ensuring that Sportradar continues to attract and retain top talent.
• Finance Function: Chief Financial Officer Gerard Griffin will lead the ‘Finance’ function, albeit for a limited time, as he will step down for personal reasons by May 31 or upon the appointment of a permanent successor.

Additionally, Chief Strategy Officer Ulrich Harmuth will be leaving Sportradar to pursue new opportunities.

A Vision for the Future

Carsten Koerl, the CEO of Sportradar, expressed his excitement about the new global organizational structure, emphasizing its alignment with strategic priorities and its potential to boost the company’s future growth. Koerl stated, “This new global organization and leadership structure aligns our teams on our strategic priorities, promotes agile execution, and better positions Sportradar for future growth.”

The centralization of key business functions is expected to foster collaboration and expedite decision-making, resulting in increased operational efficiency and innovation across all aspects of the business. Koerl added, “These decisive steps will enable us to better serve our clients and partners as well as capture the significant market opportunities ahead of us.”

Steadfast Fiscal Guidance

In addition to the organizational changes, Sportradar has reaffirmed its fiscal guidance for 2023 and 2024. The company is committed to achieving revenue between €870 million and €880 million in 2023, representing a remarkable 19% to 21% increase over 2022. Adjusted EBITDA is projected to fall between €162 million and €167 million, indicating a substantial growth of 29% to 33%.

Furthermore, Sportradar remains resolute in its fiscal 2024 outlook, targeting revenue and adjusted EBITDA growth of at least 20%. This reaffirmation comes despite a 63.8% decline in profit from continuing operations during Q3. While challenges exist, Sportradar’s strong revenue growth and unwavering commitment to its strategic objectives position it for continued success in 2023 and beyond.

As Carsten Koerl declared, “I am confident we have the right leaders in place, intently focused on executing 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.” Sportradar’s bold reorganization marks a pivotal step toward achieving these ambitious goals and shaping the future of sports technology and data solutions.