The NFL has chosen Genius Sports as its official data supplier following a competitive bidding process, according to a press release sent Thursday.
Genius beat out multiple bidders for the contract, including the NFL’s incumbent data provider Sportradar.
Under the agreement, Genius will collect data from NFL games and distribute it to sports betting operators and media partners. That includes play-by-play statistics and proprietary Next Gen Stats (NGS) data from tracking chips in shoulder pads.
Genius will also manage the NFL betting advertising inventory, and support its integrity strategy with bet monitoring and education services.
How much did Genius pay for NFL betting data?
Terms of the official league data deal were not released. LSR and others previously reported it was worth around $100 million a year. However, some industry stakeholders questioned how a data provider could make money at those levels.
CNBC reported the deal was a four-year cash and equity agreement with options.
The deal could be valued at $1 billion over the life of the contract if additional years are picked up, CNBC said.
What Genius and the NFL said
“Our technology leads the world in the convergence of official data, betting, streaming, and digital media,” said Mark Locke, CEO of Genius Sports. “We are excited to bring our unique capabilities to the world’s preeminent sports league.”
Genius will also have the right to distribute live audio-visual (AV) game feeds to sportsbooks in international markets.
“We’re excited to welcome Genius Sports to the NFL family,” said Kevin LaForce, SVP, Media Strategy for the NFL. “We look forward to working with Genius as we continue to innovate and enhance NFL content on media and betting platforms.”
Stock market reaction to Genius news
The deal is a major step for Genius as it prepares to go public via SPAC at a $1.5 billion valuation.
The stock, under the ticker DMYD, jumped 25% after hours on the news.