Better Collective to Acquire Playmaker Capital in $188 Million Deal

Better Collective, a key player in the sports media industry, has announced a definitive agreement to acquire Playmaker Capital, a leading digital sports media group. This highly anticipated deal, unveiled earlier this year, represents a significant milestone in the companies' growth and expansion plans. Better Collective is set to pay approximately $188 million for Playmaker Capital, with 65% of the transaction funded through share transfers. The remaining 35% will be settled in cash.

One noteworthy aspect of this agreement is that Better Collective will retain Playmaker's experienced leadership team, harnessing their expertise to further enhance their business operations.

By acquiring Playmaker, Better Collective will gain control of several digital sports media brands, collectively attracting over 200 million monthly visitors from across the Americas. Among the notable sites included in this acquisition are Futbol Sites, Yardbarker, and The Nation Network. Furthermore, Playmaker Capital's US-focused paid media division, Wedge, will be integrated into Better Collective's paid media division.

This consolidation is expected to bring about financial synergies, creating a positive impact on Better Collective's business. The increased scale and product offerings resulting from this merger will benefit both companies. Moreover, Better Collective's audience and portfolio will see significant growth.

Better Collective has expressed its intention to review its long-term financial targets for the period of 2023-2027 once the transaction is successfully completed. It's important to note that the deal is still subject to approval by Playmaker Capital shareholders and requires specific court and regulatory clearances.

The closing of this monumental deal is anticipated to occur by the end of the first quarter of 2024. Jesper Søgaard, co-founder and CEO of Better Collective, has emphasized the significance of this agreement, considering it a pivotal step towards establishing their dominance as a leading digital sports media group. Upon finalization, this acquisition will significantly expand their audience and enable them to reach a broader segment of sports enthusiasts.

Jordan Gnat, Playmaker Capital's co-founder and CEO, echoed Søgaard's sentiments, highlighting the alignment of their companies' visions and cultures. He expressed his excitement about the promising prospects resulting from this collaboration. In the meantime, Better Collective is gearing up for a second listing on Nasdaq Copenhagen.