Endeavor Sells OpenBet and IMG Arena in $450 Million Deal

The management-led buyout, backed by Ari Emanuel, is crucial for Endeavor's transition to a private company.

Endeavor Group is selling its sports betting businesses, OpenBet and IMG Arena, to OB Global Holdings LLC for approximately $450 million.
The deal is part of a strategic move to facilitate Endeavor's transition to a private company, led by private equity firm Silver Lake.
Ari Emanuel, Endeavor's CEO, is backing the buyout group, with significant involvement from OpenBet executives including CEO Jordan Levin.
OpenBet was acquired by Endeavor in 2022 for $800 million, and its sale is financed through a mix of cash and debt.
Endeavor will continue to market IMG Arena to potential third-party buyers even after the transaction with OB Global is finalized.