Private-equity firm RedBird Capital Partners is teaming up with Oakland Athletics executive Billy Beane to launch the first-ever special purpose acquisition company dedicated to sports. The SPAC, which will be known as RedBall Acquisition Corp., has set out to raise $500 million to focus on businesses in sports, and sports-related media and data analytics, according to a regulatory filing Tuesday. Possible targets could include professional sports franchises or leagues, according to the filing.

Source: Wall Street Journal July 28, 2020 12:22 UTC