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RBAC - RedBall Acquisition News Story

$10.04 -0.1  -0.8%

Last Trade - 16/04/21

Sector
Financials
Size
Mid Cap
Market Cap £626.1m
Enterprise Value £625.0m
Revenue £n/a
Position in Universe 2968th / 6850

Red Sox parent ends deal talks with Billy Beane's SPAC - Axios

Mon 25th January, 2021 9:47pm
Jan 25 (Reuters) - The parent company of the Boston Red Sox
has ended talks to sell a minority stake to RedBall Acquisition
Corp  RBAC.N , a blank-check firm co-chaired by baseball
executive Billy Beane, news website Axios reported on Monday.
    An alternative investment, structured more like private
equity, remains possible, the report said, citing multiple
sources. 
    Boston Red Sox owner John Henry was in talks with RedBall to
take his sports-holding company Fenway Sports Group LLC public,
according to media reports last year.  urn:newsml:reuters.com:*:nL1N2H1014
    The agreement that was being discussed would have merged
Fenway Sports Group with RedBall in a deal that would have
valued the owner of the Liverpool Football Club at around $8
billion, including debt.
    RedBall, a special purpose acquisition company, is
co-chaired by former Goldman Sachs banker Gerald Cardinale and
Beane, who shot to fame with Michael Lewis's book "Moneyball:
The Art of Winning an Unfair Game."
    The SPAC had raised $500 million in its initial public
offering last year.  urn:newsml:reuters.com:*:nL3N2EZ2XT
    Redball and Fenway Sports Group did not immediately respond
to Reuters requests for comment.
    
    

 (Reporting by Noor Zainab Hussain in Bengaluru; Editing by
Aditya Soni)
 ((noor.hussain@thomsonreuters.com; Within U.S. +1 646 223 8780;
Outside U.S. +91 80 6182 2663 or +91 80 3796 2663 ;))
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