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Friday, July 4, 2025

SeatGeek Merging with RedBall at $1.35B Valuation

  • SeatGeek is going public by merging with a SPAC cofounded by Oakland A’s executive Billy Beane and RedBird cofounder Gerry Cardinale.
  • Kevin Durant’s Thirty Five Ventures and Utah Jazz owner Ryan Smith are also investing.
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Darren Yamashita-USA TODAY Sports/Design: Alex Brooks

SeatGeek is going public through Billy Beane’s SPAC, and Kevin Durant’s venture fund is buying in.

The ticketing platform is merging with RedBall Acquisition Corp., co-founded by Oakland A’s executive and minority owner Beane and RedBird Capital founder Gerry Cardinale, at a valuation of roughly $1.35 billion.

  • The merger includes a $100 million investment from Durant’s Thirty Five Ventures, Utah Jazz owner Ryan Smith, and institutional investors including Accel.
  • RedBall raised $575 million in an IPO in August 2020. With the additional investment, the combined company will have $675 million in new cash.
  • SeatGeek’s previous investors include Eli and Peyton Manning, Carmelo Anthony’s Melo7 Tech Partners, Nas, and private equity firm TCV.

SeatGeek provides ticketing services to the Dallas Cowboys, New Orleans Saints and Pelicans, Cleveland Cavaliers, Liverpool F.C., Manchester City, and a handful of other U.S. and European soccer teams, as well as theaters and venues.

With over $5 billion in assets under management, RedBird has numerous sports investments including Fenway Sports Group, the XFL, YES Network, Toulouse FC, the Indian Premier League’s Rajasthan Royals, and OneTeam Partners, an NIL-focused company created by the MLBPA and NFLPA.

The companies estimate the global live entertainment market at $126 billion.

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