Craig Felenstein has joined Sportradar’s leadership team as its new Chief Financial Officer (CFO), effective June 1.
He will lead the global finance, accounting and investor relations teams, leveraging his extensive industry experience, including experience at renowned media companies, to drive Sportradar’s business objectives across multiple geographies.
Carsten Koerl, CEO of Sportradar, commented: “With Craig’s deep international experience and successful track record building finance organizations as a CFO at US listed public companies, I am confident that he will be a strong addition to our team. His track record of helping drive financial strategy and building shareholder value will be instrumental to our continued success. We want to express our deep gratitude to Ger Griffin for his meaningful contributions to Sportradar during a transformational growth period for our company.”
Felenstein, with more than three decades of financial experience, joins Sportradar after serving as CFO at Lindblad Expeditions, as well as senior positions at Shutterstock and media companies Discovery, News Corp and Viacom. His appointment to the company is explained by the desire to strengthen financial performance, especially after revenue growth in 2023 by 20%, from 730 million euros ($818 million) to 878 million euros ($982.56 million). Felenstein will be based in New York, where Sportradar is listed on the Nasdaq stock exchange.
Having secured significant partnerships including the NBA, the United Soccer League (USL) and the China CBA League, Sportradar is targeting the financial targets outlined in the 2023 report. Revenue is expected to grow by at least 20% to 1.05 billion euros ($1.176 billion) and adjusted EBITDA of 200 million euros ($224 million). Adjusted operating margin is expected to reach 19%, based on the euro/US dollar exchange rate of 1.07.
Felenstein noted: “Sportradar has built an impressive leadership position in the rapidly growing global sports technology market and the company is ideally situated to deliver sustained growth given their strong content portfolio, unmatched product offerings and commitment to industry innovation. I am excited to work with Carsten and the entire Sportradar team, as well as the Board of Directors, to capitalize on the significant growth opportunities ahead and deliver additional value to our clients, partners and shareholders.”
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