CMA launches merger inquiry into Sportradar–IMG Arena deal
The UK Competition and Markets Authority (CMA) has officially launched a merger inquiry into Sportradar Group AG’s proposed acquisition of IMG Arena, citing concerns that the deal could substantially lessen competition in the UK sports data market.
CMA begins formal investigation
Sportradar announced its intention to acquire IMG Arena from its current owner, Endeavor Group Holdings, in early 2024. In March, Sportradar announced the $225 million definitive agreement to acquire IMG Arena and its portfolio of global sports betting rights from Endeavor. The acquisition will see two major players in the global sports data and betting technology sector come together, potentially reshaping the competitive landscape.
On 11 July, the CMA launched an initial inquiry into Sportradar’s proposed acquisition of IMG Arena, setting in motion a two-week consultation window. As part of this, CMA sought a formal invitation to comment on whether the deal could significantly reduce competition in the UK’s sports data and betting markets. Speaking to SiGMA News, a Sportradar spokesperson had commented on the initial inquiry, “This is a normal part of the CMA merger control process.”
Subsequently, on 29 August, the CMA confirmed it had launched a Phase 1 merger inquiry, with the formal investigation commencing on 1 September. The regulator has set a deadline of 24 October 2025 to decide whether to advance the deal to a more intensive Phase 2 review. If the CMA decides to refer the merger to Phase 2, a deeper assessment will follow. This could result in requiring potential remedies or blocking the acquisition altogether.
Concerns over market competition
The investigation is based on the concerns that a merger between Sportradar and IMG Arena could create a dominant player in the UK sports data services market, reducing consumer choice and stifling innovation.
Both companies supply live sports data, video streaming, and integrity services to sportsbooks, media outlets, and rights holders. Combining their assets may grant the merged entity a significant market advantage. Such dominance could limit competition in pricing, data accessibility, and product innovation, particularly within the UK’s regulated betting industry.
Sportradar’s growth momentum, Q2 figures
Despite the regulatory hurdle, Sportradar, in recent weeks, has renewed its long-standing partnership with Bundesliga International, extending a collaboration that has been in place since 2005. Additionally, the company has also signed a new agreement with BETesporte in Brazil, allowing the operator to pilot Sportradar’s new Bettor Protection tool, Bettor Sense, aimed at promoting responsible gambling and user protection.
In August, the company announced its financial results for the second quarter ended 30 June 2025. The quarter’s achievements enabled the company to raise its full-year forecast to revenue of at least €1.278 billion, representing a 16 percent growth. The company reported 117 percent net customer retention rate and expansion in the US. According to Carsten Körl, CEO of Sportradar, the second-quarter results, including record quarterly revenue, growth in operating margin, and significant cash flow, reflect the continued execution of the company’s growth strategy.
Sportradar’s total revenue for the second quarter reached a record €318 million, marking a 14 percent increase from the same period last year. This comes on the back of a 12 percent growth in the Betting Technology and Solutions segment and 22 percent growth in the Sports Content, Technology and Services segment. The Swiss provider’s profit for the period increased to €49 million, representing 15.5 percent of revenue. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 31 percent to €64 million, and adjusted EBITDA margin increased to 20.1 percent.
