RedBird Capital and Gerry Cardinale are showing no signs of slowing down in the expansion of their portfolio as a new billion dollar fund has been created, a report claims.
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According to the website The Ankler (via PianetaMilan), RedBird Capital Partners are ready to launch a new $1billion dollar fund for sports. Cardinale’s company are currently in talks with former CNN president Jeff Zucker, with the latter having the task of leading the new fund.
RedBird ‘s recent investments (in addition to Milan) include a stake in Skydance Media, a partnership with Dwayne Johnson (AKA The Rock) and Dany Garcia to purchase – and relaunch – XFL, an American football league founded by former WWE CEO Vince McMahon.
It also includes a partnership with Epic Games (a video game development company that produced Fortnite among other titles) and Nike to acquire a stake in SpringHill, the production company founded by LeBron James and Maverick Carter.
