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Arbitration Ruling Has FanDuel, Fox Claiming Victory

An arbitrator has issued a mixed-bag ruling siding with FanDuel’s parent company on the price Fox Corp. would have to pay to exercise its option to purchase an 18.6 percent stake in the sports betting company, but agreed with Fox that it has 10 years to exercise the option.

The ruling means Fox has until December 2030 to acquire the 18.6 stake in FanDuel for a price of $3.72 billion, with an annual escalator of 5 percent. That would make the price of purchase today $4.1 billion.

Michelle Casady

Michelle Casady is based in Houston and covers litigation and appeals — including trials, breaking news and industry trends — for The Texas Lawbook.

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