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Financial instruments - fair values and risk management (Tables) | 12 Months Ended
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Dec. 31, 2023
Financial instruments - fair values and risk management |
Summary of fair value hierarchy carrying amounts of financial assets and financial liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | As of December 31, 2023
in €‘000 | ​ | Financial statement | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Description of Financial Instrument | ​ | classification |  | amount |  | Fair value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets at FVTPL |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Cash equivalents |  | Cash and cash equivalents |  | 130,175 |  | 130,175 |  | 130,175 |  | — |  | —
Financial assets at FVOCI | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity investments |  | Other financial assets and other non-current assets |  | 6,346 |  | 6,346 |  | — |  | — |  | 6,346
Total financial assets |  | ​ |  | 136,521 |  | 136,521 |  | 130,175 |  | — |  | 6,346
Financial liabilities at FVTPL |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Contingent consideration |  | Other liabilities and other non-current liabilities |  | 15,369 |  | 15,369 |  | — |  | — |  | 15,369
Financial liabilities measured at amortized cost | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capitalized sport rights licenses | ​ | Trade payables – current and Trade payables – non-current | ​ | 1,110,450 | ​ | 1,096,688 | ​ | — | ​ | 1,096,688 | ​ | —
Total financial liabilities |  | ​ |  | 1,125,819 |  | 1,112,057 |  | — |  | 1,096,688 |  | 15,369
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | As of December 31, 2022
in €‘000 | ​ | Financial statement | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Description of Financial Instrument | ​ | classification |  | amount |  | Fair value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets at FVTPL |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Cash equivalents |  | Cash and cash equivalents |  | 124,344 |  | 124,344 |  | 124,344 |  | — |  | —
Financial assets at FVOCI |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Equity investment |  | Other financial assets and other non-current assets |  | 2,820 |  | 2,820 |  | — |  | — |  | 2,820
Total financial assets |  | ​ |  | 127,164 |  | 127,164 |  | 124,344 |  | — |  | 2,820
Financial liabilities measured at fair value |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Contingent consideration |  | Other liabilities and other non-current liabilities |  | 23,201 |  | 23,201 |  | — |  | — |  | 23,201
Financial liabilities measured at amortized cost | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capitalized sport rights licenses | ​ | Trade payables – current and Trade payables – non-current | ​ | 413,168 | ​ | 401,867 | ​ | — | ​ | 401,867 | ​ | —
Total financial liabilities |  | ​ |  | 436,369 |  | 425,068 |  | — |  | 401,867 |  | 23,201
Summary of reconciliation from the opening balances to the closing balances for level 3 fair values | ​
​ | ​ | ​ | ​ | ​
​ |  | Equity |  | Contingent
in €‘000 |  | investments |  | consideration
Balance as of January 1, 2023 |  | 2,820 | ​ | 23,201
Additions |  | 3,716 | ​ | 1,400
Payments |  | — | ​ | (8,575)
Net change in fair value – unrealized (included in OCI) |  | (190) |  | —
Net change in fair value – unrealized (included in Finance cost / income) | ​ | — | ​ | (657)
Balance as of December 31, 2023 |  | 6,346 |  | 15,369
​
​ | ​ | ​ | ​ | ​
​ |  | Equity |  | Contingent
in €‘000 |  | investment |  | consideration
Balance as of January 1, 2022 |  | 2,605 |  | 8,436
Additions |  | — |  | 18,800
Payments |  | — |  | (5,585)
Net change in fair value – unrealized (included in OCI) |  | 215 |  | —
Net change in fair value – unrealized (included in Finance cost / income) | ​ | — | ​ | 1,550
Balance as of December 31, 2022 |  | 2,820 |  | 23,201
Summary of contractual cash flows for financial liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of December 31, 2023
​ | ​ | ​ | ​ | Due between |  | Due after | ​ | ​
​ | ​ | Due less than | ​ | one to five | ​ | five | ​ | ​
in €‘000 | ​ | one year | ​ | years | ​ | years | ​ | Total
Trade payables |  | 231,582 |  | 705,753 |  | 497,514 |  | 1,434,849
Deferred & contingent consideration cash flows |  | 8,376 |  | 7,197 |  | — |  | 15,573
Bank debt - contractual cash flows1 |  | 1,840 | ​ | 4,370 | ​ | — | ​ | 6,210
Lease liabilities cash flows |  | 10,470 | ​ | 27,358 | ​ | 29,359 | ​ | 67,187
Other financial liabilities |  | 4,553 | ​ | — | ​ | — | ​ | 4,553
Total |  | 256,821 | ​ | 744,678 | ​ | 526,873 | ​ | 1,528,372
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2022
​ | ​ | ​ | ​ | Due between | ​ | Due after | ​ | ​
​ | ​ | Due less than | ​ | one to five | ​ | five | ​ | ​
in €‘000 |  | one year |  | years |  | years |  | Total
Trade payables |  | 206,026 |  | 220,008 |  | 84,278 |  | 510,312
Deferred & contingent consideration cash flows |  | 14,539 |  | 9,220 |  | — |  | 23,759
Bank debt - contractual cash flows1 |  | 1,840 |  | 6,211 |  | — |  | 8,051
Lease liabilities cash flows |  | 6,083 |  | 13,646 |  | 3,146 |  | 22,875
Other financial liabilities |  | 2,992 |  | — |  | — |  | 2,992
Total |  | 231,480 |  | 249,085 |  | 87,424 |  | 567,989
1 | For the €220.0 million unutilized RCF, the foreseeable interest expense will be €1.84 million per annum, based on the assumption the RCF remains undrawn and the Senior Secured Net Leverage Ratio remains equal to or less than 3.00:1.00. Refer to Note 21.
Summary of provides information about the exposure to credit risk and ECLs for loans receivable | Loans receivable: exposure to credit risk and ECLs
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted |  | ​ |  | ​
​ |  | Gross carrying |  | average loss |  | Impairment |  | Credit-
in €‘000 | ​ | amount |  | rate | ​ | loss allowance | ​ | impaired
Grades 1 - 6: Low risk (BBB- to AAA) |  | 310 |  | 0.0 | % | — |  | no
Grade 10: Substandard (B- to CCC-) |  | 3,441 |  | 60.7 | % | (2,087) |  | no
Grade 12: Loss (D) |  | 12,258 |  | 100.0 | % | (12,258) |  | yes
Total as of December 31, 2023 |  | 16,009 |  |  |  | (14,345) |  |
Grades 1 - 6: Low risk (BBB- to AAA) |  | 359 |  | 0.0 | % | — |  | no
Grade 10: Substandard (B- to CCC-) |  | 3,559 |  | 58.5 | % | (2,087) |  | no
Grade 12: Loss (D) |  | 12,258 |  | 100.0 | % | (12,258) |  | yes
Total as of December 31, 2022 |  | 16,176 |  |  |  | (14,345) |  |
Summary of trade receivables from individual customers: exposure To credit risk and ECLs | Trade receivables from individual customers: exposure to credit risk and ECLs
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted |  | ​ |  | ​
​ |  | Gross carrying |  | average loss |  | Impairment |  | Credit-
in €‘000 | ​ | amount |  | rate | ​ | loss allowance | ​ | impaired
Current (not past due) |  | 44,431 |  | 1.6 | % | (726) |  | no
1 to 60 days past due |  | 20,279 |  | 2.8 | % | (562) |  | no
61 to 90 days past due |  | 2,691 |  | 7.8 | % | (211) |  | no
More than 90 days past due |  | 13,460 |  | 60.3 | % | (8,116) |  | yes
Total as of December 31, 2023 |  | 80,861 | ​ | ​ |  | (9,615) | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current (not past due) |  | 27,752 |  | 0.4 | % | (113) |  | no
1 to 60 days past due |  | 26,326 |  | 1.3 | % | (334) |  | no
61 to 90 days past due |  | 3,036 |  | 3.8 | % | (116) |  | no
More than 90 days past due |  | 11,817 |  | 41.9 | % | (4,956) |  | yes
Total as of December 31, 2022 |  | 68,931 |  |  |  | (5,519) |  |
Summary of effect of a quantitative change of foreign currency exchange rates of the EURO against the exposed currencies | ​
​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
in €‘000 |  | 2023 |  | 2022
€ exchange rate +10% | ​ | (47,960) |  | 1,934
€ exchange rate +5% | ​ | (23,980) |  | 967
€ exchange rate -5% | ​ | 23,980 |  | (967)
€ exchange rate -10% | ​ | 47,960 |  | (1,934)

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