Gagnier Communications and Principal Communications Group represent RedBird Capital Partners as it teams with Dwayne “The Rock” Johnson and his business partner Dany Garcia to buy the bankrupt XFL for $15M.
Founded by Goldman Sachs partner Gerry Cardinale, RedBird manages $4B in capital across verticals in sports, TMT, financial services and consumer products.
Cardinale helped create the YES Network with the New York Yankees; Legends Hospitality with the Yankees and Dallas Cowboys; On Location Experiences with the NFL, and Suddenlink Communications, which was the No. 7 cable TV company when it was acquired by France’s Altice.
The XFL declared Chapter 11 in April and was scheduled to go into auction on Aug. 7. President Jeffrey Pollack called the deal “a Hollywood ending” to our sale process. “Dwayne, Dany and Gerry are a dream team ownership group and the XFL is in the best possible hands going forward,” he said.
Dan Gagnier and PCG’s Melissa Zukerman and Paul Pflug handle RedBird, while Hiltzik Strategies’ Matthew Hiltzik and Jeremy Watkins represent the XFL’s parent Alpha Entertainment.