Did you know that Michael Jordan was one of the early investors in Carsten Koerl’s sports betting venture? Relying on Jordan’s competitiveness, the Swiss Billionaire recounted how MJ took on the role of a ‘cheerleader’ to motivate the CEO during a pivotal moment in his life.
On Bloomberg Podcasts, Carsten recalled being anxious about Sportradar’s IPO on the Nasdaq Global Select Market in September 2021. MJ, who had invested in the company in 2015, quickly sensed this tension and stepped up for his friend.
“For the IPO, that was one of the moments in your life and I have been standing there short after COVID with Michael Jordan and he said, ‘Carsten, today I am your cheerleader’ and I only smiled..”
The CEO of Sportradar further discussed the unique edge Jordan brought in as a partner. “As an early investor in Sportradar, Michael saw the potential in our company…” A few other NBA team owners, Mark Cuban and Ted Leonisis, also took the leap of faith and invested in Carsten’s company.
Just a week after its IPO, the billion-dollar company announced that MJ would join them as a special advisor. Carsten admired MJ’s competitive spirit and even admitted to frequently seeking his business insights.
The Bulls’ legend’s background as an athlete also distinguished the company from its competitors. Carsten believed these complementary qualities made Jordan an ideal fit for Sportradar.
“He is, I think, the most competitive person on the planet I know and learning from him that spirit, ‘I want to win,’ is for me, a great exercise. And he is a fantastic businessman… He understands sports on a level I am not able to understand it and he understands sports betting on a level where we are competing. That’s the perfect mix to engage in a business level.”
Soon their bond deepened and ‘His Airness’ significantly increased his investment in the company. Jordan expressed his belief in Carsten and stepped on board.
“I invested in Sportradar years ago because I believed in the vision and passion that Carsten (Koerl) and the rest of the team had for transforming the sports technology industry… I am looking forward to having a formal role with the company as it begins its next chapter.”
This partnership became a game-changer for Sportradar. The company now has a market capitalization of $3.48 billion and generates over $1 billion in annual revenue.
