A digital sports media business has already established the basketball and football leagues.
Overtime, a provider of digital sports media, has raised an additional US$100 million in a fundraising round led by Liberty Media, the commercial rights holder for Formula One, and Morgan Stanley's Counterpoint Global Fund.
Liberty Media's involvement will be credited to the Formula One Group, and the Series D round of finance also included participation from Winslow Capital, Jeff Bezos, Blackstone, and Sapphire Sport.
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Overtime's goal is to disrupt traditional sports with cutting-edge new formats and media attention, and the company has now collected more than $250 million in funding to that end.
OTE won't be the only sports league we do, according to Overtime CEO Dan Porter.
Since its debut in 2016, Overtime has established a community of 65 million Gen Z and millennial sports enthusiasts online and introduced the seven-on-seven American football league OT7 and the basketball league Overtime Elite (OTE). More than 800 million views were generated by OTE and OT7 in their first year, and their material today receives more than two billion monthly views.
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