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
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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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