Sportradar has an agreement to go public at a $10 billion valuation. Should the deal go through, it will be the biggest sports-related SPAC merger in history.

The data aggregator signed a letter of intent to merge with Horizon Acquisition Corp. II, a blank-check company led by Los Angeles Dodgers minority owner Todd Boehly. The SPAC raised $525 million in an IPO last year.

Sportradar is registered in Switzerland, and the SPAC is based in the Cayman Islands, which may allow the deal to sidestep concerns around U.S. taxation related to purchases of foreign companies.

Sportradar has spent the last two decades establishing itself as a premier provider of sports-related data. It has partnerships with the NBA, NFL, MLB, NHL, Nascar, FIFA, and many other leagues. In 2018, shortly after the U.S. Supreme Court allowed states to legalize sports betting, it was valued at $2.4 billion.

• U.S. customers provided just 6% of the company’s overall revenue in 2019.
• Sportradar positioned itself as a risk mitigator for leagues experiencing an influx of betting. Last month, it said it would offer gambling fraud detection to any league for free.
• The company markets its API as an immediate source of data from box scores to player movement tracking. Its partners include Google, Facebook, Twitter, DraftKings, FanDuel, CBS Sports, Yahoo Sports, and over 1,000 more.

Boehly’s first sports-related SPAC is still seeking a company to acquire and take public. One big winner of the deal? Canadian pensioners — the Canada Pension Plan Investment Board is among Sportradar’s biggest investors.

New Balance is responding to the growing presence of women’s sports.

The company announced that its subsidiary Brine will rebrand itself exclusively as a women’s equipment manufacturer by ceasing production of men’s lacrosse gear, per Sportico. The brand will also change its logo and messaging.

Since 1922, Brine has served as a manufacturer of lacrosse, soccer, volleyball, and field hockey equipment and was acquired by New Balance in 2006. 

Brine has had overlapping product lines with sister company Warrior, which New Balance acquired in 2004. The product overlap and growth of women’s lacrosse led New Balance to shift its focus. 

“Warrior will be our brand for men, and now Brine will be a brand for women. [We’re] differentiating ourselves in the market where most brands are playing in this space for both,” Warrior CEO Cindy Abbott told Sportico. 

Brine’s rebranding comes amid increasing emphasis on creating equal opportunities for women in sports. Last week, a group of Olympians led by Alex Morgan and Sue Bird launched a media startup driven by women.

“We intend to continue to bring innovation to the lacrosse industry,” Abbot said. “Meanwhile, we’ll continue to focus on surrounding these women with a community and a platform, which will allow them to be seen and heard.”

Things are finally looking up for FC Barcelona after a spell of front office turmoil.

Just days after the club’s offices were raided, resulting in the arrest of former president Josep Maria Bartomeu and three other officials, the club has named a new president — Joan Laporta.

“New” doesn’t cover what Laporta means to the team. He previously served as president of the club from 2003 to 2010, winning four La Liga titles and marking superstar Lionel Messi’s debut with the club.

In 2008, rumors escalated that Laporta would resign due to pressure from fellow directors following a majority vote against him — but the vote was not enough to hold new elections. The decision led to the resignation of eight of the club’s 17 board members.

After the reconfiguration, Barça went on to win the treble of La Liga, the Copa del Rey, and the Champions league in 2009. They also won the Supercopa de Espana, UEFA Super Cup, and the FIFA World Club Cup before the end of his first tenure in 2010.

Bartomeu stepped down in October 2020 after 20,000 fans signed a petition calling for his resignation. Laporta officially entered the presidential race in January after presenting over 10,000 signatures — 9,625 of which were validated — and won the election with 54.2% of the vote. 

He will navigate the biggest debt crisis in European soccer at more than $1.3 billion and faces the prospect of  club talisman Messi leaving the team. Barcelona says it expects to lose a total of $600 million due to the pandemic.

“We want the joy and happiness to be back in the club,” Laporta said. “The best thing you can do for Barça is to love it.”