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The US sports leagues have begun discussion to sell their stakes in FanDuel and DraftKings, say Spokespersons for the Major League Baseball (MLB) and NBA basketball league. Talks are said to have begun between the sports leagues and DFS companies DraftKings and FanDuel to discuss the possible selling of their stakes. The possible financial details or exit terms were not revealed.
The MLB first pumped money into DraftKings in 2013, and the league inked a multi-year deal to make the company its official daily fantasy market in 2015. The NBA chose to invest in the rival company FanDuel in 2014, they did not reveal.
MLB’s statement reads: “While we have initiated discussions regarding potential changes to the structure of our relationship, we look forward to continuing our valued partnership with DraftKings. MLB and DraftKings will continue to collaborate on innovative approaches to enhance the fan experience.”
Mike Bass, spokesman for the NBA, said: “This space is evolving, and we saw the need to take a fresh look at the structure of our relationship. FanDuel has been, and will remain, a great partner; we have simply modified some of the components of our partnership.”
Moreover, DraftKings released a statement in which it said that the MLB was the first professional league to invest in DraftKings and that their partnership over the last five years has been instrumental to its growth and success. “Our ties to MLB are as strong as they have ever been,” the company said.
Source: European Gaming Media and Events