Anyone know who's on these insanely cool deals? Redbird / XFL Takeover with The Rock
A group comprising RedBird, actor Dwayne "The Rock" Johnson and businesswoman Dany Garcia has agreed to pay $15 million for the assets of Alpha Entertainment, the parent company of the XFL, a fledgling professional football endeavor that shut down and filed for bankruptcy this spring in the midst of its first season because of the pandemic
This deal size seems too low for BB/EB I suspect a niche media-focused boutique.
Whats the fee even like for a $15mm engagement?
No clue...5%-10%?
PJT
https://www.espn.com/xfl/story/_/id/29593665/the-xfl-rock-dany-garcia-1…
Makes sense, any sports related deal pretty much does to Don Cornell (ex MS M&A, now with PJT). A fairly niche (but growing) M&A market.
Cornwell**
Just FYI for when you're recruiting next year ;-)
Would would HL and PJT agree to do a $15M deal? I would think this is a total waste for both of them
Do you smell what the deal flow is cookin?
This wasn’t some no name mom and pop shop looking to auction itself for retirement - it was a celebrity worth 300 million+ dollars and his ex wife who is an extremely successful businesswoman who is becoming a pro sports league owner now, good marketing, PR, and relationship building
I also doubt the work around this was super time consuming vs the future potential benefits
Wonder how big the fee was
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