Sportradar reveals new organisational structure
The new structure is effective immediately and consists of six business functions across the Sportradar business.
Warren Murphy switches from chief product officer to chief delivery and operations officer, leading product delivery and operations. This segment combines and centralises content, product development and engineering.
Nick Maywald, formerly chief content officer becomes chief growth and innovation officer, with responsibility for growth and innovation. Chief commercial officer Eduard Blonk will lead the commercial function, covering sales, client services and care, sports partnerships, marketing and communications.
Elsewhere, Lynn McCreary, chief administrative officer, chief legal officer and corporate secretary, will oversee legal, risk and administrative services. Severine Riviere-Gerstner will head up the people sector as chief people officer and chief financial officer Gerard Griffin will lead the finance function.
However, Griffin will only remain in place for a few months, having informed Sportradar he will be stepping down for personal reasons. Griffin will continue as CFO until 31 May, or after the appointment of a permanent successor if this happens before then.
Also leaving Sportradar is chief strategy officer Ulrich Harmuth. Sportradar said Harmuth will depart the group to pursue other endeavours.
Sportradar CEO: changes will support future growth
Carsten Koerl, CEO of Sportradar, said that he is excited with the new global organisational structure. He added that this will better position the group for future growth.
“This new global organisation and leadership structure aligns our teams on our strategic priorities, promotes agile execution and better positions Sportradar for future growth,” Koerl said.
“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.”
Sportradar reaffirms 2023 guidance
In addition to the organisational structure, Sportradar has reaffirmed fiscal 2023 guidance.
This includes posting revenue between €870m (£745m/$951m) and €880, which would be 19% and 21% higher than 2022, respectively. Adjusted EBITDA should be between €162m and €167m, up 29% and 33%, respectively.
Sportradar also reaffirmed its fiscal 2024 outlook for revenue and adjusted EBITDA growth of at least 20%.
This comes despite Sportradar posting a 63.8% decline in profit from continuing operations for Q3. During the period, this profit amounted to €4.6m, through revenue was up 12.4% and adjusted EBITDA 38.3%.
As for the first nine months of 2023, profit from continuing operations was €11.4m, a fall of 73.8%. For the same period, revenue increased 19.3% and adjusted EBITDA 40.2%.
“I am confident we have the right leaders in place, intently focused on executing on our strategic priorities,” Koerl said. “For 2023, we remain on track to deliver on our strong growth targets and are well positioned to maintain that momentum into 2024.”