Cuban invests in the Australian wearables producer, which makes a GPS that can track more than 100 fields of data and is used by Australian Rules football players in the Australian Football League (AFL), the Philadelphia Flyers in the NHL, the Dallas Cowboys, AC Milan soccer team, and even under the waistcoats of Spanish bullfighters. Catapult is the biggest wearable GPS provider in the world, and operates out of a small factory in south Melbourne. Catapult chairman Adir Shiffman:
We’re on the way to being a billion-dollar company one day
Cuban confirms to the Australian Financial Review that he has taken a stake in Catapult. Terms aren’t disclosed and his stake is understood to be less than 5% and worth only a few million dollars. Cuban:
Wearable analytics will be a critical advantage in pro sports and eventually as it shrinks in size, in business. It won’t revolutionise [the sports industry], but it will make teams smarter and keep players on the court more. It also may save a career or even a life on the way.
It is Cuban’s first investment in an Australia-based company.