SportsGrid Engages Telos Advisors for Sale Process as Revenue Declines from 2022 Level
SportsGrid is seeking a buyer after revenue fell from $22 million in 2022. The company has engaged Telos Advisors, holds an $11 million valuation and operates across multiple streaming platforms. Past deals including DraftKings’ VSiN sale and Penn Entertainment’s $1 Barstool exit highlight execution risks in sports media assets.
SCCG Take — Repeated steep discounts in media acquisitions signal structural challenges in converting sports content into sustainable gaming value. Acquirers must scrutinize audience overlap and cost absorption before committing capital.
SportsGrid is reportedly seeking a buyer. The 24-hour sports wagering network has engaged investment bank Telos Advisors and conducted talks with prospective buyers for several months. One suitor may be emerging as the leader though none have been identified.
SportsGrid notched revenue of $22 million in 2022, but that figure has been declining according to Front Office Sports. The company supplies written sports betting content on its website and broadcasts live shows on Amazon Prime Video, DirecTV, Fubo, Roku and YouTube.
SportsGrid Operational Profile
Founded in 2010 SportsGrid functions as a developer of a wagering platform for online sports content publication. Its output covers athletes, teams, coaches and sports including football, basketball, soccer, boxing, golf and tennis. The company maintains an estimated 81 employees, has raised $6.2 million and carries an $11 million valuation.
Execution Record of Sports Betting Media Acquisitions
Media partnerships once attracted strong interest. Macquarie estimated more than $30 billion would accrue to regulated online gaming operators by 2030 through such relationships. Results have not matched expectations.
DraftKings paid $70 million to purchase VSiN in March 2021 and sold the network three years later for a rumored pennies-on-the-dollar price. Penn Entertainment acquired Barstool Sports for $500 million only to sell it back for $1 in August 2023. The track record indicates a gaming company may not pursue SportsGrid though that outcome stays unclear.
The process tests whether current valuations for sports wagering content providers can hold given repeated value erosion in prior deals. Potential acquirers will weigh the $11 million entry point against integration demands and audience monetization limits evident in the sector.
Reporting: Casino.org News
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
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