{
  "id": 27483,
  "title": "Adam Schefter Among Early Investors to Cash In on Underdog Sale",
  "url": "https://urgent.news/2026/07/31/adam-schefter-among-early-investors-to-cash-in-on-underdog-sale",
  "topic": "culture",
  "section": "Culture",
  "published": "2026-07-31T19:48:28.000Z",
  "source": {
    "name": "Front Office Sports",
    "slug": "front-office-sports",
    "url": "https://frontofficesports.com/adam-schefter-investors-cash-in-underdog-sale/"
  },
  "original_language": "en",
  "account": "NFL insider Adam Schefter, alongside notable investors such as Mark Cuban, Kevin Durant, and Jared Goff, was among early contributors to Underdog, a fantasy sports and prediction market operator. In 2021, Schefter, together with a group of investors, raised $10 million for Underdog. Just recently, Underdog was sold to online trading firm IG Group for up to $2.15 billion, with $1.1 billion paid upfront, a $200 million earnout contingent on the company's future performance, and a potential $850 million payout to eligible Underdog employees. Schefter was identified as an early-stage investor by an Underdog spokesperson, though he has not made further investments or participated in the company's operations since.",
  "summary": "Schefter first invested in Underdog in 2021.",
  "key_points": [
    "Adam Schefter invested in Underdog in 2021.",
    "Underdog sold to IG Group for up to $2.15 billion.",
    "$1.1 billion paid upfront, $200 million contingent on future performance."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}