Fox Corporation files arbitration claim over the value of its stake in FanDuel


An arbitration claim has been filed by Fox Corporation over the value of its stake in FanDuel.

Around 95% of the stakes in FanDuel is being held by Flutter Entertainment. Out of this percent, a 37.2% stake was bought by Flutter from Fastball Holdings last year.

To this end, Fox had facilitated the deal and had bought Flutter’s shares. After this, Fox was given a deal by Flutter to to acquire 18.6% of shares.

The price for said shares was $11.2bn, which Flutter now claims has changed. And, this is the main dispute between the corporations.

Fox believes that it is not fair market value price.

In a statement to CNBC, a Fox spokesperson said: “Fox Corporation has filed suit against Flutter to enforce its rights to acquire an 18.6% ownership interest in FanDuel Group for the same price that Flutter paid for that interest in December 2020”, as reported by Gambling Insider.