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Racing Post owner lining up £500m sale

Exponent Private Equity is hiring investment banks to oversee the sale of Spotlight Sports Group, whose flagship brand the Racing Post was launched by Sheikh Mohammed bin Rashid Al Maktoum of Dubai in 1986.

Racing Post owner lining up £500m sale
Photograph: Philippe Oursel on Unsplash.

The Racing Post, a UK-based daily newspaper, is seen as one of the foremost sources of racing news and betting tips in the horse-racing and greyhound-racing worlds.

The sale could take place as soon as the first half of next year and will cash in on the current boom in sports betting data deals.

Spotlight Sport’s planned joint venture with Spanish media giant, PRISA, also provides an international growth opportunity that may appeal to potential purchasers.

In an interview with Bloomberg News, Alan Byrne, Spotlight’s CEO and Racing Post’s editor-in-chief, said: “This partnership will make the business more digital, more international and more successful in sports other than horse racing.”

The planned deal would give PRISA access to Spotlight’s betting data for publication on its sports website as.com.

The news follows the recent public floatings of Swiss-based Sportsradar group on the New York Stock Exchange and Genius Sports, another sports data company, which went public in the USA earlier this year. Whether Spotlight Sports will follow suit with a public offering, however, is yet to be seen.

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