• Loading stock data...
Friday, December 13, 2024

RedBird Sells Stake in NFLPA, MLBPA Venture at $600M Profit

  • RedBird Capital Partners is selling its stake in OneTeam.
  • It founded the venture in 2019 with the NFLPA and MLBPA.
RedBird-Capital-Partners
John David Mercer-USA TODAY Sports

A joint venture between the NFL and MLB players is bidding adieu to its original private equity partner and welcoming three more.

RedBird Capital Partners is selling its 40% stake in OneTeam, a business that handles the intellectual property rights of the MLBPA and NFLPA.

  • HPS Investment Partners, Atlantic Park Strategic Capital Fund, and Morgan Stanley Tactical Value are buying RedBird’s stake.
  • The deal reportedly values OneTeam at around $1.9 billion
  • OneTeam was formed in 2019 by RedBird, the NFLPA, and MLBPA. Latham & Watkins advised the NFLPA on the original formation of the company and on the most recent sale.

RedBird exits with an estimated $600 million in profits – a return of more than 500%.

Growing Team

In addition to MLB and the NFL, OneTeam has expanded to represent the players’ associations of MLS, the WNBA, the NWSL, the U.S. Women’s National Team, U.S. Rugby, the League of Legends Championship Series, and college athletes. 

In all, it represents over 10,000 players.

The MLBPA added more than 5,000 players to its rolls with the addition of MLB’s minor league players this week.

“We have generated hundreds of millions of dollars for athletes across football, baseball, basketball, soccer, rugby, and more,” said Malaika Underwood, OneTeam interim CEO.

OneTeam’s EBITDA is reportedly around $200 million.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Nov 3, 2024; Harrison, New Jersey, USA; New York Red Bulls midfielder Lewis Morgan (9) heads a ball during the first half against the Columbus Crew in a 2024 MLS Cup Playoffs Round One match at Red Bull Arena.

MLS Team to Play in ‘Sports Illustrated Stadium’ in $100M Naming Deal

It’s a partnership with a sister ticketing platform company, not the magazine.

Fast-Growing Orlando Burnishes Sports Reputation With NWSL Win

The Pride’s NWSL title is the city’s first major pro championship.
Sep 7, 2024; Washington, District of Columbia, USA; Washington Spirit forward Trinity Rodman (2) celebrates with owner Michel Kang and Washington Commanders owner Magic Johnson after scoring a goal against Portland Thorns FC during the second half at Audi Field

The NWSL Has Become the New Darling of Ambitious Investors

The NWSL is in a hyper-growth era, and cash is flowing in.
Indiana Fever guard Caitlin Clark (22) smiles while answering a question Tuesday, Sept. 17, 2024, after an Indiana Fever practice at Gainbridge Fieldhouse in Indianapolis.

Caitlin Clark a ‘Vital’ Part of Cincinnati NWSL Bid As League Expands

The WNBA superstar has joined an NWSL expansion bid in Cincinnati.

Featured Today

Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.
Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion
December 7, 2024

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
December 2, 2024

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.
exclusive

Talor Gooch Using LIV Golf Fortune to Start Building Sports Empire

The golfer has made more than $43 million individually from LIV.
November 13, 2024

Why Liberty Media Spun Off Assets, Shook Up Leadership

Longtime CEO Greg Maffei is stepping down at the end of the year.
December 4, 2024

U.S. Firm Makes $310M Bet on Soccer by Forming Superagency

The U.S.-based investment company makes a significant play in international soccer.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
Oct 27, 2024; Seattle, Washington, USA; Buffalo Bills quarterback Josh Allen (17) passes against the Seattle Seahawks during the second quarter at Lumen Field.
October 30, 2024

Buffalo Bills in Talks to Sell Stake to PE Firm Arctos: Report

Arctos already has a slice of Paris Saint-Germain and the PGA Tour, among other assets.
Jul 7, 2021; Tampa, Florida, USA; Tampa Bay Lightning owner Jeff Vinik hoists the Stanley Cup after the Lightning defeated the Montreal Canadiens 1-0 in game five to win the 2021 Stanley Cup Final at Amalie Arena.
October 25, 2024

Lightning Sell at $1.8B Valuation, Nearly Double Prior NHL Record

The Lightning unveiled a multistep and multiyear sale process.
May 24, 2024; Minneapolis, Minnesota, USA; Dallas Mavericks owner Mark Cuban celebrates after defeating the Minnesota Timberwolves in game two of the western conference finals for the 2024 NBA playoffs at Target Center.
October 9, 2024

Why Mark Cuban Sold the Dallas Mavericks When He Did

Cuban sold his majority stake to the Adelson family in December 2023.
Young fans look over Michigan State sports equipment on display during the Spring Showcase on Saturday, April 20, 2024, at Spartan Stadium in East Lansing.
October 2, 2024

Private Equity Firms Buy Rival Hockey Brands CCM and Bauer

Both brands have been around for decades and changed ownership in the same week.