Bloomberg Law
Oct. 15, 2021, 10:55 AM

Two Firms Help Kevin Durant-Backed SeatGeek on SPAC Deal

Rick Mitchell

Cooley is advising ticketing platform SeatGeek on its go-public merger with a Cayman Islands-based special purpose acquisition company.

Fried Frank is advising the SPAC, RedBall Acquisition Corp., on the deal, which values the combined company at $1.35 billion and is expected to close in 2022’s first quarter, according to a statement.

SeatGeek is expected to take in around $675 million in cash from the deal, with about $100 million coming from investors including Brooklyn Nets star Kevin Durant and Qualtrics International Inc. co-founder Ryan Smith, the billionaire who majority owns the Utah Jazz, the statement said.

New York-based SeatGeek is poised to tap into a $126 billion global market for live entertainment, RedBall said. A business model that aligns the needs of fans and rightsholders, along with mobile-centric technology, separate SeatGeek from other industry players, the company said.

“We believe SeatGeek is truly the future of live event ticketing,” said RedBall CEO Alec Scheiner.

SeatGeek’s website says NFL stars Eli and Peyton Manning were early investors. Its partners include the Dallas Cowboys, the Brooklyn Nets, Liverpool F.C., and theaters in New York and London, the company said.

To contact the correspondent on this story: Rick Mitchell in Paris at
To contact the editor on this story: Chris Opfer in New York at; John Hughes in Washington at