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Sportico: Redball’s Sports Team Hunt Starts as IPO Hits MarketAugust 18, 2020
O’Melveny Sports Industry Group co-chair Chuck Baker spoke with Sportico on RedBall’s IPO and its pursuit to acquire a major sports franchise.
RedBall Acquisition Company, a SPAC formed by Gerry Cardinale and Billy Beane, completed its US$575 million IPO and now has two years to make an acquisition within the sports industry, the publication reported.
“It’s a big SPAC, and I suspect they’ll be looking for a big property to buy,” Baker said. “I would expect that they’ll look in Europe, where the rules are a little bit less restrictive in terms of the type of entity that can own a team.”
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