EQS-Ad-hoc: SPORTTOTAL AG / Key word(s): Letter of Intent
Disclosure of insider information pursuant to Article 17 MAR
SPORTTOTAL AG, ISIN: DE000A1EMG56 / WKN: A1EMG5
SPORTTOTAL AG signs development agreement to expand to the US streaming market
Cologne, 4 January 2023. SPORTTOTAL AG has signed a development agreement with Global Sports Platforms (GSP), led by David Cochran and Kevin McLaughlin. SPORTTOTAL AG will establish a US based entity, STAIDIUM US Inc. to become its fully owned entity for the business operations in the United States. Mr. Cochran and Mr. McLaughlin will be responsible for establishing the entire business infrastructure in the United States. SPORTTOTAL’s self-developed and fully automated camera will be installed in numerous ice arenas, basketball and volleyball venues, football, baseball, and soccer stadiums as well as racquet sports venues to live-stream sporting events from the youth levels to professional. STAIDIUM’s services will be available via tailor-made subscriptions to its customers. The Live streams on STAIDIUM US Inc. will rely on the high-speed 5G network operated by T-Mobile in the US. In a mid-term SPORTTOTAL expects operating profits in the double digit million Euro range contributed by the US business. T-Mobile US will enable STAIDIUM US Inc. to provide high-quality live streams to its customers based on the high and consistent bandwidth of the largest 5G network in the US.
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04-Jan-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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1527707 04-Jan-2023 CET/CEST