Sportradar has revealed a new organisational structure of six business functions as it looks to propel long-term growth, profitability and shareholder value.
Effective immediately, the Product Delivery and Operations division combines and centralises content, product development and engineering across a global scale.
This division will be led by Warren Murphy, now Sportradar’s chief delivery and operations officer after transitioning from chief product officer.
The Commercial division combines the company’s go-to-market functions including sales, client services and care, sports partnerships, marketing and communications, with the division to be headed up by chief commercial officer Eduard Blonk.
Sportradar has also revealed the Growth and innovation, Legal, Risk and Administrative Services, People and Finance business units.
Sportradar CEO Carsten Koerl said the new structure “aligns our teams on our strategic priorities, promotes agile execution and better positions Sportradar for future growth.”
“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," 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. I am confident we have the right leaders in place, intently focused on executing on our strategic priorities.”
Sportradar said the company changes mean Ulrich Harmuth, chief strategy officer, will depart to pursue “other endeavours.”
Meanwhile, Gerard Griffin, the leader of the new Finance team, will continue as chief financial officer until the end of May or the appointment of a permanent successor, if earlier. The company has initiated a search for its next CFO, who it expects to announce prior to Griffin’s departure.
Sportradar also reaffirmed its fiscal 2023 guidance of revenue.
It expects revenue in the range of €870m to €880m, representing year-over-year growth between 19 per cent and 21 per cent, adjusted EBITDA in the range of €162m to €167mi, representing year over-year growth between 29 per cent and 33 per cent, and adjusted EBITDA margin in the range of 18.4 per cent and 19.2 per cent.
