ESPN insider Adam Schefter confirmed to be investor in betting company Underdog

[p]The deal with the UK's online trading firm IG Group will pay out $200 million to investors and possibly up to $850 million towards eligible Underdog employees. [/p][p]According to [a href="https://frontofficesports.com/adam-schefter-investors-cash-in-underdog-sale/?utm_source=TWITTER&utm_medium=Article&utm_campaign=Editorial" target="_blank"]the initial report by Front Office Sports[/a], Schefter, who will see his "small investment" tripled as part of the big sale, was part of the original group that invested $10 million into Underdog.[/p][p]ESPN refused to comment on the matter.[/p][p]Other big names who invested in the company include NBA superstar Kevin Durant and [a href="https://www.flashscore.ca/team/detroit-lions/boZWV3E7/"]Detroit Lions[/a] quarterback [a href="https://www.flashscore.ca/player/goff-jared/hUrJTx6m/"]Jared Goff[/a].[/p][embed guid="f4d1e25b-2536-4617-99c8-7381c695c4e3" url="https://x.com/FOS/status/2083296895259004930?s=20" social-type="twitter" /][p]This wouldn't be the first time Schefter invested in a betting business.[/p][p]In 2021, he invested in Boom Entertainment (a digital casino firm), the same company that acquired the NBC Sports Predictor free-to-play app back in 2023. [/p][p]Schefter has been under a lot of fire in recent years for his reporting, whether it's promoting his own side projects or the way he handles breaking news about players and coaches.[/p][p]His investment in Underdog becomes a major conflict of interest as Schefter, who is the biggest name in NFL inside reporting alongside Ian Rapoport, could have potentially fixed certain news breaks for the betting market. [/p][embed guid="99055608-13f9-4205-9207-f8e72385dbca" url="https://x.com/therecount/status/1515085556555952135?s=20" social-type="twitter" /]