FanDuel CEO Nigel Eccles Departs Company To Pursue New eSports Venture
Daily fantasy sports provider FanDuel has now officially conceded to be second fiddle to former rivals DraftKings. With the proposed merger between FanDuel and DraftKings falling through, it seems there are changes set to happen due to the challenging legal situation the DFS market is in. In a statement from FanDuel, CEO Nigel Eccles is leaving the company “to focus on his next venture” which is set to be eSports related.
The replacement for Eccles will be CFO Matt King who will also join the board of directors. Eccles gave high praise for his replacement and said,” With his strategic vision, range of experiences, and broad skillset, I cannot imagine a better individual to steer FanDuel forward. With tremendous legislative strides in the past two years and the business moving into profitability in Q4, FanDuel is in a great position. I know Matt is the leader to capitalize on the momentum in the sports technology space to take FanDuel to the next level.”
Commenting on his new role in eSports Eccles pointed out in an article in Recode that traditional sports are in “harvest mode” while the eSports realm is in “growth mode” with untapped real potential.
Eccles will be remembered as the CEO who tried to navigate the company through difficult times in the last few years especially on the legal front with regulators in the U.S. According to FanDuel they are on target to turn a profit in Q4 2017 and have forecast an annual profits for 2018.