On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, including SeatGeek’s plan to go public via acquisition. The mobile-first ticketing platform has reached an agreement with RedBall Acquisition Corp., a SPAC led by Gerry Cardinale and Billy Beane.
This is the latest big SPAC deal in sports, but the first in some time, after market forces cooled what was once a hot investment vehicle. RedBall (NYSE: RBAC) raised $575 million in its IPO last year. News of the plans didn’t have a dramatic effect on the company’s stock price.
The hosts also talk about NFLPA head DeMaurice Smith, who will keep his job after surviving a vote from player reps on Friday night. Smith needed 22 votes to maintain his position, and he received exactly 22. He has said this will be his last term.
Soshnick and Novy-Williams also discuss the NFL’s international plans, the Saudi Arabian takeover of English soccer team Newcastle United, and the bizarre story of 18 former NBA players, who were recently charged with the felony offense of conspiracy to commit health care fraud and wire fraud.