RedBall Acquisition Corp, a special purpose acquisition company, has confirmed that it is in an exclusive discussion with ticketing company SeatGeek over a possible business combination.
A statement read: “There is no assurance that a definitive agreement will be signed. The company will not comment further unless and until a transaction is agreed or discussions are terminated.”
At the beginning of the year, RedBall terminated talks with Fenway Sports Group to take the company public. Fenway is the parent organisation of English Premier League football club Liverpool and Major League Baseball’s Boston Red Sox.
RedBall had been in serious talks about taking Fenway Sports Group public in a proposed deal that would value the portfolio at around $8bn (£5.87bn/€6.92bn).
As part of the deal, RedBall would have acquired a minority equity stake in Fenway Sports Group if the deal had gone through.
The blank-check firm is led by Billy Beane, a businessman that also owns a minority stake in MLB team Oakland Athletics and English Championship football team Barnsley.
Beane is also a minority owner of football club AZ Alkmaar in the Eredivisie, the top tier of football in the Netherlands.
Bloomberg reported that a deal could be announced as early as this week.
SeatGeek boasts partnerships with NFL teams such as the Dallas Cowboys and New Orleans Saints.
The New York-based company also has deals with NBA teams Brooklyn Nets and Cleveland Cavaliers, and is the official ticketing partner of Major League Soccer.
In the UK, SeatGeek is the majority ticket provider for Liverpool and rival Premier League team Manchester City.
SeatGeek also recently announced that it had signed its first NHL partner, the Philadelphia Flyers, through a deal which also incorporates the team’s Wells Fargo Center arena.