CNBC Sport RedBird Capital's Gerry Cardinale 5/29/25
May 29, 2025
Gerry Cardinale, founder of RedBird Capital Partners, discusses the rising asset inflation in sports. He warns investors about inflated valuations and explores new opportunities in women's sports leagues. The conversation dives into the shifting dynamics of sports media rights, including potential changes for the Super Bowl and the role of the United Football League. Cardinale emphasizes the need for innovation in sports investment, highlighting strategies to monetize franchises beyond traditional revenue streams.
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Active Sports Investment Needed
- Sports investments today require active governance and deep business plan understanding.
- Simply buying minority stakes in teams doesn’t align with Redbird’s investment style.
Sports Asset Inflation Bubble
- There's an asset inflation bubble in sports team valuations currently.
- Investors must work harder to underwrite sustainable business plans as valuations outpace media rights growth.
Shift From Hobby to Business
- Sports teams have evolved from hobbies into multi-billion-dollar live entertainment businesses.
- Owners must adopt a strategic business mindset rather than treating teams as mere personal possessions.