Michael Jordan’s involvement with Sportradar, a prominent sports betting technology company, extends beyond mere investment. In a recent revelation, Carsten Koerl, the CEO of Sportradar, shared how Jordan’s support was instrumental during a crucial phase for the company.
In September 2021, Sportradar went public on the Nasdaq Global Select Market, a significant milestone for the company. Jordan, who had been an early investor since 2015, played a pivotal role during this period. Koerl recounted his anxiety about the IPO and how Jordan stepped in as a source of encouragement.
On the Bloomberg Podcast, Koerl described a moment of reassurance provided by Jordan. “For the IPO, that was one of the moments in your life and I have been standing there shortly after COVID with Michael Jordan and he said, ‘Carsten, today I am your cheerleader,’” Koerl shared. Jordan’s supportive words helped alleviate Koerl’s stress during this critical time.
Jordan’s early investment in Sportradar was driven by his belief in the company’s potential. Alongside other NBA team owners like Mark Cuban and Ted Leonsis, Jordan’s involvement was a testament to the faith in Sportradar’s future. Just a week after the IPO, Jordan was announced as a special advisor to the company, further strengthening his role.
Koerl praised Jordan’s competitive nature and business acumen, noting that Jordan’s insights were invaluable. “He is, I think, the most competitive person on the planet I know, and learning from his spirit of ‘I want to win’ has been a great exercise for me,” Koerl remarked. He also highlighted Jordan’s deep understanding of sports and sports betting, which perfectly complemented Sportradar’s business objectives.
Jordan’s commitment to Sportradar was evident in his increased investment and involvement. “I invested in Sportradar years ago because I believed in the vision and passion that Carsten and the rest of the team had for transforming the sports technology industry,” Jordan stated. He expressed enthusiasm about his formal role with the company and its future.
The partnership between Jordan and Sportradar proved transformative. The company has since achieved a market capitalization of $3.48 billion and generates over $1 billion in annual revenue. Jordan’s influence and support have significantly contributed to Sportradar’s success, underscoring the impact of his engagement beyond the basketball court.
