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SportsHub acquires online payment solution LeagueSafe

The fantasy sports product provider also acquired the National Fantasy Championship from STATS

Financial trends and news by Steven Loeb
November 21, 2016 | Comments
Short URL: http://vator.tv/n/484f

Updated with additional comment from SportsHub

While the big time merger between FanDuel and DraftKing will get the most ink, that's not the only consolidation going on in the fantasy sports space. On Monday, SportsHub, a provider of fantasy sports products and services, announced two acquisitions.

First, it acquired LeagueSafe, an online payment solution for collecting and protecting fantasy dues.

No financial terms of the deal were disclosed but it was revealed that LeagueSafe will operate as a separate division with Paul Charchian, founder of LeagueSafe, retaining his previous responsibilities while also taking on a senior role with thefantasy SportsHub management team.

Founded in 2016, SportsHub owns and operates real money gaming sites and helps sports media companies develop strategies, products and solutions to drive customer engagement through games and apps. Its products include NFL Rush Fantasy, NASCAR Fantasy Live, and PGA Tour Fantasy Golf.

LeagueSafe was founded in 2008 with the goal of simplifying and automating finance management for fantasy league administration.

The company simplifies entry fee payments, secures league fees throughout the season, offers transparency of league finances to all team owners, give owners the opportunity to validate their commissioner intended payouts, and releases funds immediately after the end of the season. The product has been used by over a half million customers so far.

"LeagueSafe wallet system will be used accross all SportsHub properties to ensure a commerce ecosystem that will allow users from any game we own apply their funds/winnings to additional games and contests," Rob Phythian, Founder and CEO of SportsHub, told me.

"LeagueSafe is already tapped into the private season long league market that is 45 million strong.  We plan to work hard to reach that market and offer additional game play opportunities.  LeagueSafe gives us a jump start on that journey."

In addition to buying LeagueSafe, SportsHub also announced that it has acquired assets of the National Fantasy Championship from sports data and technology company STATS. No financial terms were disclosed. 

NFC, which was started in 2004, runs the National Fantasy Football Championship, National Fantasy Baseball Championship, and National Fantasy Basketball Championship. It has awarded more than $37 million in prize money. It will operate as a separate division with GM Greg Ambrosius retaining his previous responsibilities while also taking on a senior role within the SportsHub management team.

STATS will continue to invest in solutions, including fantasy, for its partners to help them increase the engagement of fans and improve performance on the field. As part of the transaction, STATS will continue to power the NFC data and scoring. 

VatorNews reached out to SportsHub for more information on these acquisitions. We will update this story if we learn more. 


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