Who is Redbird Capital?

https://www.redbirdcap.com/people/

Gerry Cardinale is the Founder and Managing Partner of the firm.

Prior to founding RedBird, Gerry spent 20 years at Goldman Sachs where he was a Partner of the firm and a senior leader of the Merchant Bank’s private equity investing business, which managed over $100 billion of private capital investments across equity, debt, real estate and infrastructure investment strategies.

During his tenure, Gerry worked with entrepreneurs and family business owners to build several successful multi-billion-dollar platform companies, including the Yankees Entertainment & Sports (“YES”) Network, the #1 Regional Sports Network in the United States; Legends Hospitality, a premium ticketing, concessions and merchandising services company which was created in partnership with the Dallas Cowboys and the New York Yankees; and Suddenlink Communications, which was the 7th largest American cable company at the time it was acquired by Altice USA.

Gerry currently sits on several boards across the RedBird investment portfolio, including (i) Aethon United, one of the largest independent, privately held upstream and midstream natural gas producers in the Haynesville; (ii) Compass Datacenters, a developer and owner of wholesale build-to-suit data centers for hyperscale cloud, software, and enterprise customers; (iii) OneTeam Partners, a partnership with the Players Associations of the National Football League (“NFL”) and Major League Baseball (“MLB”) to monetize the Name, Image and Likeness (“NIL”) of the collective players; (iv) RedBall Acquisition Corp, a publicly traded blank-check company (NYSE: RBAC/U) with a focus on teams and businesses in the sports, media and data analytics sectors; (v) RedBird FC, a multi-club European football platform driven by data-analytics via a partnership with some of the top analytics-focused executives in sport; (vi) RedBird QSR, a diversified quick-service restaurant platform; (vii) Skydance Media, a diversified content-production studio founded by David Ellison focused on subscription video on demand (“SVOD”), feature film, animation and interactive gaming; (viii) TierPoint, a leading data center operator and provider of IT infrastructure services focused on private and hybrid cloud solutions, managed services, and retail colocation in 40+ locations across the US; (ix) Wasserman Media Group, one of the preeminent athlete, talent, brand and property representation firms in the world; (x) XFL, a professional football league and entertainment property in partnership with Dwayne Johnson and Dany Garcia; (xi) Yankee Global Enterprises (“YGE”), the corporate holding company of the New York Yankees and its affiliated businesses; (xii) the Yankees Entertainment & Sports (“YES”) Network, the #1 Regional Sports Network in the United States which broadcasts the live games of the New York Yankees, Brooklyn Nets and New York City Football Club; and (xiii) Zenith Shipping, a portfolio of product tankers and dry bulk shipping vessels.

Philanthropically, Gerry is a Trustee of the Mount Sinai Health System in New York City and leads one of the multi-state Selection Committees that awards Rhodes Scholarships each year. Gerry received an Honors BA from Harvard University where he graduated Magna Cum Laude and an M.Phil in Politics and Political Theory from Oxford University where he was a Rhodes Scholar.

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Looking at the web site makes me laugh!

All those people swooning(Not just here) over a big star partnering with the CFL and he is nothing more than a investor with Redbird and prob has no say in what happens

I was just curious what this RedBird entity was. Came away that it is 12 Goldman Sachs partners who have each put in 350 million into a capital investment fund.

They own cable providers, networks, stadiums. All the things a football league needs to be successful.

It will be interesting to see how this partnership would look. Do they "buy" the nine CFL franchises or do they sell XFL Franchises to interested owners? Can't see it any other way.

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But all that assumes a merger...and no-where have I seen the word merger. I really think its going to be more like the CFL/Mexico/Europe deal....Whatever it is, nothing has come from it

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I don't see a merger RO. I see the offer of a buyout.

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Perhaps but then why would the XFL put it's schedule on hold for something as simple as that, or Randy mentioning the financial ramifications of the deal. Maybe it won't be a full merger, but this is purely for financial gain for both parties, not merely player development

Who buys who..and why would either one buy the other...

It's about vision. Private equity is just code for leverage buyout.Redbird have to get
rid of the obstacles to achieve their vision.

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This makes no sence
The XFL was already on hold. but why not play 2022 as it was scheduled then adjust to whatever this gives them? Is the XFL so screwed up that they can't play in 2022 and are thinking that the CFLis going to save them?

Bingo !

They need 6 of 9 owners to agree to a buyout.

If the Community teams refuse to go along, which I suspect they will, as they are accustomed to running to the government for money. Also, Bob Young's tweet points to the fact he's not sold on this at least yet or at the very least is concerned with negotiating with his back to the wall, then it gets messy.

This episode in the league's history will come to a conclusion one way or another by May 1st. IMO.

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Who is buying who, and what is their vision?

The XFL was planning to play spring of 2022 but if they partner with the CFL that throws a wrench into things. Cross border play, network contracts, rule changes and compromises. They're not coming to the CFL for saving, Redbird has more than enough money to run it on its own. This is about creating a super league of sorts

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I dont think so...it is to much too soon
The idea thing is to play 2022 like they were supposed to and see what they have. It makes no sense to expand when you don't know what you have

Second...They can merge and not have interplay or rule changes or whatever and I hate to think that the comish would sell out a Canadian tradition as easily as that

Redbird on its own is 4 Billion in cash, meaning you can borrow just about any amount of money you want with that kind of wealth and Goldman Sachs connections.

But you need to put up an asset and a business plan to borrow that money without risking your pot of gold (4 billion). Buying the CFL for the right price, makes financing their project much easier. They buy a structure complete with officiating, Canadian TV deal and nine football teams. which more than doubles their number. Buys credibility, stability.

But only at the right price. Which I peg at somewhere between 90 and 180 million Canadian dollars 75 to 150 million usd. A bargain when you consider their football adventure will require 500 million to a billion dollar investment before all is said and done.

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Redbird would buyout the CFL.

Redbird would also probably reach out to other PE firms(CVC Capital,Octagon,Endeavor,CAA)that operate in the sports/entertainment
business to lessen their exposure.

Investment capital is flowing into sports assets all over the world.it's the
battle for attention spans.

I don't think people here are going to like the results.

Pay attention to Wade Miller. That will be the key in all this.

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Live content is at a premium

Wade Miller is inconsequential. The three community owned teams are just along for the ride.

I can't see that happening...I cant see the comish having the power to do that and I can see the owners wanting to do that

He won't go away quietly.

If in fact they want to buy the CFL, it shows they have more money than brains.

A 2nd league will never fly in the US vs the NFL. You need a TV contract & therefore teams in NY & LA. And those cities did not work in 2019, plus the NFL is already there twice in those cities.

What can the CFL offer them? There are thousands of players coming out of US colleges every year, so player talent can't be the reason.

If they're stupid enough to want that 2nd league, might as well put teams in cities like St. Louis, Memphis, Birmingham, etc rather than Regina, Ottawa, Hamilton.

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