The Judicial Arbitration and Mediation Services has made a decision in the Flutter arbitration. The ruling gives the broadcaster, Fox, the right to exercise its 10-year call option on FanDuel.
The details of the case
This case has been going on for a while now. So it’s understandable if you are somewhat lost on the details. A statement from Fox sums it up nicely;
“FOX has a 10-year call option that expires in December 2030 to acquire 18.6% of FanDuel for $3.72 billion, with a 5% annual escalator,” the statement says. “FOX has no obligation to commit capital towards this opportunity unless and until it exercises the option.”
On its part, Flutter was now seeking what it deemed a fair market price for a portion of the 37.2% FanDuel stake acquired from Fastball in December 2020. JAMS did not agree.
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