RedBall Acquisition, a blank-check firm led by ‘Moneyball’ subject Billy Beane and RedBird Capital Partners’ Gerry Cardinale, is in advanced talks to merge with SeatGeek, Bloomberg reports, citing a person familiar with the matter. SeatGeek is a mobile-focused ticket platform.
A deal, if agreed, could be announced as soon as next week, the person said, asking not to be identified discussing private information. Terms of the transaction couldn’t immediately be learned.
The NYSE halted trading in RedBall this afternoon when the news broke. Around 2:45 p.m. Eastern, the SPAC confirmed it is in talks with SeatGeek.
The SPAC raised $575 million in an August 2020 IPO. Read more.