Data company Sportradar received a huge boost Tuesday as a trio of high-profile NBA owners were revealed as investors.
According to Scott Soshnick of Bloomberg, Charlotte Hornets owner Michael Jordan, Dallas Mavericks owner Mark Cuban and Washington Wizards owner Ted Leonsis invested a total of $44 million.
Per Eric Fisher of SportsBusiness Journal, all three owners were named to the Sportradar U.S. advisory board with an eye toward legalizing sports betting and better understanding advanced statistics.
According to a statement released by Revolution Growth, which was co-founded by Leonsis, the Wizards and Washington Capitals owner is excited about being part of Sportradar:
The Sportradar team is ahead of the curve in understanding the crucial role data plays in creating innovative content and products that captures audiences. With superior technology and development that is already providing the fastest, most accurate data feeds, Sportradar is well-poised to capitalize on the rapidly expanding, multi-billion dollar global sports market.
The notion of legalized sports gambling is a hot-button issue across multiple leagues, and the NBA has been among its biggest supporters.
When asked about betting on the Boomer & Carton Show in April, NBA Commissioner Adam Silver said it was "good for business" and wanted to further explore its advantages and disadvantages, per James Herbert of CBSSports.com.
Now that three of the NBA's most influential figures are involved with a company interested in legalized sports betting, there is little doubt the issue will be pushed to the forefront even more.
It certainly doesn't guarantee an imminent change, but since Jordan, Cuban and Leonsis have so much influence, their investment in Sportradar has to be considered a step forward for those who are in favor of legalizing sports betting in the United States.
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