>> Exclusive: RedBird Capital Partners And FOX Sports Have Come To An Agreement On XFL-USFL Merger Terms
XFL News Hub has learned that Red Bird Capital Partners and FOX Sports have come to an agreement to merge the XFL and USFL on a non-binding term sheet that is currently undergoing regulatory review with the Department of Justice.
The merger terms on the term sheet have been submitted for review and approval. The 30-day waiting period has already begun.
Both sides, the USFL and XFL will remain separate entities until the merger terms are reviewed and completed. Once that process is complete, a binding deal would then be signed.<<
Read the full story....
https://xflnewshub.com/xfl-news/exclusi ... _article=1
XFLNewsHub-Excl:RBC And FOX Sports Have Come To An Agreement
-
4th&long
- MVP
- Posts: 7470
- Joined: Sun Nov 24, 2019 2:27 pm
-
MGB01
- MVP
- Posts: 3839
- Joined: Wed Aug 14, 2019 8:42 pm
Re: XFLNewsHub-Excl:RBC And FOX Sports Have Come To An Agreement
People will still be impatient as to why "nothing's happening" but it totally makes sense.
While it was an attempted sale and not a merger, I'm reminded of this big press event that Eric Bischoff's Fusient group did when they agreed to buy WCW in January 2001 (an attempt to steal some thunder away from the previous day's announcement of the AOL/Time Warner merger). Lost in all the hubbub was the part that the sale wouldn't become final for 45 days. WCW piled up losses in 1999 and 2000 that made XFL3.0's look like pocket change and the bill essentially came due. This scared off investors left and right, leading to back-and-forth haggling, and ultimately the 45 days passing with Fusient the next to go down the road and Bischoff left to make an subdued after-the-fact announcement of a final Nitro (without saying as much). So that this was an ongoing thing at least since the start of summer bodes better for both sides that they were oh, a bit more straightened out than WCW was.
Now assuming all goes well and both continue as they are and around Thanksgiving or so the NSFL or whatever becomes official, we'll have two mergers (XFL/USFL, WWE/UFC) done in a relatively low-key manner, while the merger that was going to "shake golf to its core" will probably not end up happening--pointless since they're doing the TGL thing anyway.
While it was an attempted sale and not a merger, I'm reminded of this big press event that Eric Bischoff's Fusient group did when they agreed to buy WCW in January 2001 (an attempt to steal some thunder away from the previous day's announcement of the AOL/Time Warner merger). Lost in all the hubbub was the part that the sale wouldn't become final for 45 days. WCW piled up losses in 1999 and 2000 that made XFL3.0's look like pocket change and the bill essentially came due. This scared off investors left and right, leading to back-and-forth haggling, and ultimately the 45 days passing with Fusient the next to go down the road and Bischoff left to make an subdued after-the-fact announcement of a final Nitro (without saying as much). So that this was an ongoing thing at least since the start of summer bodes better for both sides that they were oh, a bit more straightened out than WCW was.
Now assuming all goes well and both continue as they are and around Thanksgiving or so the NSFL or whatever becomes official, we'll have two mergers (XFL/USFL, WWE/UFC) done in a relatively low-key manner, while the merger that was going to "shake golf to its core" will probably not end up happening--pointless since they're doing the TGL thing anyway.
-
4th&long
- MVP
- Posts: 7470
- Joined: Sun Nov 24, 2019 2:27 pm
Economic Impact:RBC & FOX Sports Have Come To An Agreement
https://www.wsj.com/economy/consumers/i ... _lead_pos8
>> It’s Getting Too Expensive to Have Fun
Prices for concert tickets and amusement-park entries have ballooned<<
Not sure if this has a pay wall but...
>>The cost of admissions and fees rose faster than the prices of food, gasoline and other staples in 2022, according to the Bureau of Labor Statistics Consumer Expenditures Survey. Those rising costs have continued this year.
Americans were on track to spend about $95 billion this year on tickets to spectator amusements including movies, live entertainment and sporting events, according to August data from the U.S. Bureau of Economic Analysis. That is up 23% from all of last year, and 12.5% higher than the $84.4 billion spent on the same entertainments in 2019, the last year before the pandemic shut down most spectator events.<<
Bottomline its likely a good move to reduce costs, risk etc... and the merger helps with that.
>> It’s Getting Too Expensive to Have Fun
Prices for concert tickets and amusement-park entries have ballooned<<
Not sure if this has a pay wall but...
>>The cost of admissions and fees rose faster than the prices of food, gasoline and other staples in 2022, according to the Bureau of Labor Statistics Consumer Expenditures Survey. Those rising costs have continued this year.
Americans were on track to spend about $95 billion this year on tickets to spectator amusements including movies, live entertainment and sporting events, according to August data from the U.S. Bureau of Economic Analysis. That is up 23% from all of last year, and 12.5% higher than the $84.4 billion spent on the same entertainments in 2019, the last year before the pandemic shut down most spectator events.<<
Bottomline its likely a good move to reduce costs, risk etc... and the merger helps with that.
