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Gerry Cardinale

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Kevin Durant Set To Secure Big-Time Investment In Merger Reportedly Valued At $1.35B

Kevin Durant is evidently enjoying his time in the business limelight. As AfroTech previously reported, the Brooklyn Nets basketball star recently secured a two-year partnership with blockchain platform Dapper Labs’ NBA Top Shot. Now, Durant is making headlines as he’s reportedly set to become one of the major buyers in a merger agreement between ticket search engine platform SeatGeek and blank check company RedBall Acquisition Corporation, according to Front Office Sports. The merger proves to be a relief for RedBall — co-founded by Billy Beane and RedBird Capital founder Gerry Cardinale — who reportedly struggled over the past year, EssentiallySports previously reported. But clearly, hope was not lost as RedBall now has a promising footing with the latest merger reportedly valued at a whopping $1.35 billion (What a comeback). The equity rollout will include a $100 million private investment in public equity (PIPE). The beauty of PIPE financing permits prospects to be afforded the...

Samantha Dorisca

Oct 18, 2021

LeBron James And Maverick Carter's SpringHill Company Reaches $725M Valuation After Sale Of Minority Stake

AfroTech previously reported that LeBron James had a brewing financial venture in the works surrounding entertainment brand SpringHill Company. Now, the speculation is over as the company has revealed it has closed a minority stake sale to a consortium of investors reaching a valuation of $725 million, Variety reports. Investors in James’ SpringHill Company — founded in 2020 by the NBA GOAT and Maverick Carter — include Nike, Fenway Sports Group, Epic Games, and RedBird Capital Partners. “Maverick and LeBron have created an impressive media content platform led by a creative leadership team that has built a unique mission-driven brand,” Gerry Cardinale, founder and executive of RedBird, said in a statement. “Our partnership with SpringHill should enable us collectively to optimize that mission with scalable capital and a business building mentality that will continue to elevate more diverse voices and a drive towards greater empowerment.” With the new investment, SpringHill Company...

Samantha Dorisca

Oct 14, 2021