Pro Sports Teams Haven’t Made for Good Public Companies, But SPAC Principals Remain Undeterred – Yahoo Sports

Pro Sports Teams Haven’t Made for Good Public Companies, But SPAC Principals Remain Undeterred – Yahoo Sports


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Liberty Braves (BATRA) and Madison Square Garden Sports (MSGS) are trading significantly below their intrinsic value. So, it’s fair to wonder why sport-, media- and entertainment-focused SPACs (like RedBall Acquisition Corp. and Sports Ventures Acquisition) are exploring opportunities to purchase sports teams. Conversations with several SPAC insiders have indicated that while pro teams have not made for good public companies over the last decade or two, a change in market conditions and/or the public listing of a club with a strong underlying business and more control over team revenues could alter the
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