Industry insiders view $750 million (the reported asking price for The Athletic) as steep. While DraftKings and Flutter trade at lofty multiples of their own, that does not make either more likely to overpay for the digital sports media company. As Grove explained, their “ability to create an arbitrage between their valuation and the valuation of things they acquire with equity is a big part of their competitive advantage. There is no reason to believe they would squander it recklessly.” For what it’s worth, we heard the $750 million figure is not accurate.