NFL swaps Genius Sports warrants for cash in deal extension

NFL swaps Genius Sports warrants for cash in deal extension

Article brief provided by Sportico
  • Brendan Coffey, Sportico
August 7, 2023 7:19 PM

The NFL and Genius Sports altered the payment terms of their agreement when the league and the sports data and analytics company extended their exclusive data rights deal through the 2027-28 season last month. Instead of the NFL collecting 4 million warrants in Genius Sports for two of the three years of the extension, the league will instead be paid in cash, according to CEO Mark Locke, speaking on a call with analysts Monday.

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“We believe that this is in the interest of our shareholders as it is less dilutive than it would have been otherwise, and we have agreed [on] a predetermined cash amount, which will be included in our rights fees and leaves us confident in our ability to continue growing profitability through the life of the deal,” Locke said in prepared remarks delivered on the call, according to a transcript from S&P Global Market Intelligence.