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New York Times
14 hours ago
- Business
- New York Times
UFL adds new billionaire co-owner Mike Repole, who promises big changes
The ownership group of the UFL has gained a new member in Mike Repole, the billionaire co-founder of Vitaminwater and BodyArmor. In a statement Thursday, the spring football league said Repole's private equity firm, Impact Capital, 'will lead the league's business operations' going forward. Repole, 57, joins co-owners RedBird Capital Partners, Fox, ESPN, Dany Garcia and Dwayne 'The Rock' Johnson. The league has not disclosed how much Rapole paid for his ownership stake. Advertisement A UFL spokesperson did not immediately respond to a request for comment. 'I think today is the first day of the United Football League,' Repole told Sports Business Journal. 'It probably took a couple of years for them to get comfortable and have the right conferences and leagues. I think they learned a lot.' Forbes estimates Repole's net worth to be around $1.6 billion, a large portion of which came from Coca-Cola's purchase of his companies Glaceau — the maker of Vitaminwater and Smartwater — and BodyArmor. The beverage giant paid $4.1 billion for Glaceau in 2007, then $5.6 billion in 2021 to acquire BodyArmor. 'The UFL is thrilled to welcome a visionary like Mike Repole to our ownership group,' said UFL President and CEO Russ Brandon in a statement. 'Mike's entrepreneurial accomplishments are extraordinary, and his dynamic leadership will immediately elevate the league's business and brand trajectory.' Repole's other investments include NOBULL, a sportswear company that merged with Tom Brady's nutrition and apparel brands in 2024. He also owns the Repole Stable horse racing team. The UFL, formed when the struggling USFL and XFL spring leagues merged in December 2023, faced a 20 percent decline in viewership during its second season, according to league numbers compiled by Sports Business Journal. Game attendance dropped 5 percent from 2024, and was down in seven of the eight cities with UFL teams. St. Louis, the league's strongest market, fueled in part by the Los Angeles Rams' departure from the city, saw a 13 percent drop in attendance this season. Detroit did see attendance increase by a third, however. Individual games, on average, have drawn about 10,000 fans. 'The vibe hasn't been to where it should be,' Repole told ESPN on Thursday. 'You can hear a pin drop when someone runs 80 yards. That's not so good. Nobody wants to turn on the TV and see 10,000 fans in a 65,000-seat stadium. It's like watching a COVID game.' Advertisement Repole also told ESPN the UFL plans to move at least two teams before its next season begins, and that he sees the league's number of teams doubling over the next decade. 'We're going to be aggressive as far as being nimble and scrappy and gritty and making aggressive moves,' he said. 'If by 2035, if we can't have 16 teams, I'm going to consider it a personal failure. This is it. Other leagues didn't have the capital that this league has, didn't have the media giants that this league has, didn't have the entrepreneurs that this team has.' Repole confirmed long-simmering rumors that Columbus, Ohio, will be one of the relocation destinations, with games played at the Columbus Crew's stadium. However, he did not say which team will move there or which other new markets are under consideration. The current cities with UFL teams are Arlington, Texas; Birmingham, Ala.; Detroit; Houston; Memphis; San Antonio; St. Louis and Washington D.C., whose team (the DC Defenders) won the 2025 UFL Championship. Both of the UFL's first two seasons had 10-game schedules, but it has not yet said when the 2026 season will begin. It announced on Tuesday that 26 UFL players who appeared during the 2025 season have since signed NFL contracts, one of its key value propositions to attract potential players.
Yahoo
21 hours ago
- Business
- Yahoo
UFL adds Mike Repole as an owner — and he's eyeing 16 teams by 2035
The UFL is doubling down. Despite disappointing metrics in its second season after the USFL/XFL merger, it has attracted another major investor. And he has big plans. Mike Repole, who cofounded vitaminwater, smartwater, and BodyArmor before selling them to Coca-Cola for more than $12 billion, joins RedBird Capital Partners, FOX, ESPN, Dany Garcia, and Dwayne Johnson as owners of the league. 'Football has clearly established itself as America's most popular sport, with tremendous momentum and demand,' Repole said in the press release announcing the development. 'There's no better time than now to build a strong, sustainable spring league that unites players, teams, and fans. I'm honored to join the United Football League's ownership group as we work to create something truly lasting and game-changing.' The initial changes to the game reportedly include the relocation of half of the league, with Birmingham, Michigan, Houston, and Memphis franchises heading to new markets. In an interview with Kevin Seifert of Repole confirmed that at least two and as many as four teams will move for 2026. Repole also said that one of the new markets will be Columbus, with the UFL team playing at the MLS stadium built for the Columbus Crew. He wants venues that feel alive. Which makes smaller stadiums critical. "The vibe hasn't been to where it should be," Repole said. "You can hear a pin drop when someone runs 80 yards. That's not so good. Nobody wants to turn on the TV and see 10,000 fans in a 65,000-seat stadium. It's like watching a COVID game." As the facilities shrink, the teams could grow. Repole wants to double the size of the UFL, within the next decade. "We're going to be aggressive as far as being nimble and scrappy and gritty and making aggressive moves," Repole said. "If by 2035, if we can't have 16 teams, I'm going to consider it a personal failure. This is it. Other leagues didn't have the capital that this league has, didn't have the media giants that this league has, didn't have the entrepreneurs that this team has." He's right about that. The key will be to create an appetite for football when it's not football season. That's the fundamental challenge that all spring or summer leagues have faced. Which means that the best way to succeed as an alternative league would be to play games during NFL season, on the days when the NFL isn't playing games: Tuesday, Wednesday, Saturday, Sunday.
Yahoo
23-07-2025
- Business
- Yahoo
Investment platform Yieldstreet raises $77m
Private markets investment platform Yieldstreet has completed a capital raise of $77m, drawing both new and existing investors. The funding round was spearheaded by Tarsadia Investments, with contributions from Mayfair Equity Partners, Edison Partners, Cordoba Advisory Partners (CAP), and Kingfisher Investment Advisors, as well as new participant RedBird Capital Partners. This financial boost is intended to enhance Yieldstreet's platform capabilities and facilitate the integration of private markets into individual investors' portfolios. The investment also brings added industry expertise to Yieldstreet's board, with Mike Zabik from RedBird Capital Partners and Yariv Robinson from Kingfisher Investment Advisors joining as new members. RedBird Capital Partners partner Mike Zabik said: 'Yieldstreet has built a differentiated platform for investors and we're excited about their vision to provide investor access to a broad universe of private markets opportunities that have been historically limited to large institutional investors. 'I look forward to working with the Board and management team, supporting the company's vision and momentum through RedBird's distinct business building approach.' In April this year, the company introduced Yieldstreet 360, its inaugural automated investing solution, marking a step in the evolution of its platform. This platform seeks to remove traditional barriers to private market investments, offering individual investors diversified access to private equity, private credit, and real estate, all aligned with their financial goals. Yieldstreet CEO Mitchell Caplan said: 'The next five years will define how individual investors access private markets investments. 'The convergence of regulatory evolution, technological advancement, and investor demand has created the conditions for a new era in private markets.' Yieldstreet, which currently boasts over 500,000 members, helps investors to diversify their portfolios across various asset classes, including real estate, private credit, private equity, and art. The platform provides investment opportunities across ten asset categories. "Investment platform Yieldstreet raises $77m" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Guardian
22-07-2025
- Business
- The Guardian
Telegraph sale poised to go ahead after Lords foreign ownership vote
The sale of the Telegraph looks set to finally go through after government legislation to allow foreign states to own up to 15% in British newspapers survived a potentially fatal vote in the House of Lords. Gerry Cardinale's RedBird Capital is leading a consortium looking to buy the Telegraph for £500m, in a deal that would result in the United Arab Emirates retaining a stake of 15%. Ministers have been attempting to push through legislation to allow foreign states to own passive stakes of up to 15% in British newspapers, after the previous Conservative administration proposed a law in March last year that set the limit at zero. That cap meant the joint venture RedBird IMI, which bought the Telegraph Media Group in November 2023, would have to sell up as it is 75% funded by International Media Investments (IMI) – controlled by Sheikh Mansour bin Zayed Al Nahyan, the vice-president of the United Arab Emirates. The US private equity company RedBird Capital, which contributed the other 25% of funding, has tabled a deal to buy the Telegraph under which IMI would retain a minority stake of up to 15%, although RedBird has said it can fully fund a deal in its own right. The government's foreign ownership bill would allow this purchase to go ahead but the plan was put at risk on Tuesday after Liberal Democrat peers attempted to block it via a rare 'fatal motion', the strongest opposition that can be taken in the House of Lords, which would force ministers to reintroduce the legislation. After an almost three-hour debate, peers voted to reject the fatal motion 267 to 155, meaning the 15% cap will pass into law. However, another statutory instrument will need to be introduced after the parliamentary recess in September to add a rule that will stop foreign investors from buying multiple 15% stakes in British newspapers. No final deal for the Telegraph has yet been signed, and a takeover will still face regulatory hurdles, including a public interest test that will be triggered by the culture secretary, Lisa Nandy. It will also be subject to a full investigation by the Competition and Markets Authority. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion However, the government's win in the House of Lords is likely to prompt RedBird Capital to publicly announce its formal bid in the coming weeks. RedBird Capital – which holds various investments including a stake in the parent company of Liverpool football club and is seeking to jointly acquire the TV and film business Paramount – has said that if the deal goes ahead it would become the sole controlling investor of the Telegraph. It is also set to bring on British partners with small stakes, including the owner of the Daily Mail and Len Blavatnik, the owner of Warner Music and the sports and entertainment streaming service Dazn.
Telegraph
22-07-2025
- Business
- Telegraph
Laws to allow UAE stake in The Telegraph approved by Lords
The House of Lords has approved legislation to enable the United Arab Emirates to become part-owner of The Telegraph against significant cross-party opposition. Peers agreed to allow foreign states to take passive shareholdings in British newspapers of up to 15pc. The move prepares the ground for the end of more than two years of damaging limbo for The Telegraph, which has effectively operated without an owner since June 2023. Lords on Tuesday evening voted through a statutory instrument proposed by the Government to ease an existing outright ban on newspaper investments by foreign powers. Peers rejected a rare 'fatal motion' tabled by the Liberal Democrats that attempted to block the legislation. The motion, which would have controversially overturned a vote in the House of Commons, was defeated by 267 votes to 155. Gerry Cardinale, the founder of RedBird Capital, the US private equity firm in line to become the controlling shareholder in The Telegraph, said: 'Today marks an important milestone that provides the clarity we need to press ahead with RedBird Capital's acquisition of The Telegraph. 'With legislation now in place, we will move quickly and in the forthcoming days work with DCMS [the Department for Culture, Media and Sport] to progress to completion and implement new ownership for The Telegraph.' A well-attended upper chamber heard arguments that the statutory instrument undermined the intention of the outright ban introduced last year to block an attempted takeover of The Telegraph. The decision opened a diplomatic rift with the UAE, which ministers have been attempting to close, including in a visit to Abu Dhabi by Sir Keir Starmer in December. The blocked bid was majority funded by IMI, a media company controlled by Sheikh Mansour bin Zayed Al Nahyan, the vice president of the UAE, which prompted a cross-party outcry over press freedom. The UAE positioned itself to take control by repaying the overdue debts of the Barclay family, the previous owners, but did not reckon on a change in the law. There followed a year during which IMI tried to exit its investment in an auction which failed to deliver a bid able to match its price. In May Lisa Nandy, the Culture Secretary, announced plans to treble the limit on foreign state investment to 15pc. Prior to the general election, Conservative ministers proposed a limit on foreign state investment of just 5pc to protect press freedom. Ms Nandy said the shift was necessary to allow publishers greater access to sovereign wealth investment as they attempt to negotiate the decline of print newspapers. Baroness Twycross, her junior minister in the Lords, this evening said: 'The far greater risk is how UK news media faces significant, genuinely existential challenges as their business models move away from print towards digital, and new technologies emerge. 'Whilst it is vital we support stronger protections for UK newspapers and other news media, we need to make sure we don't inadvertently make it harder for newspaper groups to survive.' The Conservative Lord Black of Crossharbour, and deputy chairman of Telegraph Media Group, backed the Government. He warned: 'It really is five minutes to midnight for much of the British press ... the passage of these regulations is absolutely vital to the future of the British press.' The Telegraph last year reported a 35pc increase in operating profits to £54m on a turnover of £278m, up 5pc. Lord Fox, the Lib Dem business spokesman behind the fatal motion, said: 'Whether the Government is trying to deliver capital to the sector or it is mending a diplomatic fence, in doing so they are parlaying foreign influence. Whatever the side-deals, they are not worth the cost of press freedom.' He was supported by a group of 41 Conservative peers who went against the party's policy of supporting the legislation. The rebellion was larger than expected. Their leader, Lord Forsyth, said: 'It is completely unacceptable that our parliamentary procedures should be overridden and that we should create an open door for foreign governments to get into our media. 'If we have foreign governments owning newspapers … that will mean there is a conflict of interest between our journalists and their proprietors. Between journalists who might want to write unpleasant things about some regimes.' Peers appeared to ease the ban with some reluctance. The Tory peer Baroness Stowell of Beeston, who played an influential role in forcing action against the UAE bid for The Telegraph prior to the general election last year, criticised the Labour Government's subsequent handling of the 'sorry saga'. Her 'motion of regret' rebuked ministers for a loophole in the statutory instrument which could allow multiple foreign powers to take stakes of up to 15pc each. She said: 'What I find so frustrating is it's taken the Government a year to get to this point. And we still need a further set of regulations to be laid out to address the serious loophole. 'This foot-dragging and apparent incompetence have given rise to legitimate questions about who or what has really influenced the Government in its approach to this incredibly important matter. 'If the Government were acting only in the interests of the press industry, we would have got all this sorted and the ownership of The Telegraph long before now.' But Lady Stowell argued that if the 15pc limit is properly enforced, it will allow investment in newspapers at a critical time. She said: 'While I respect those who are framing this debate as a battle about the future of press freedom, actually, if it's a battle about anything, it's over the future of a financially viable press. We don't just need our newspapers to be editorially independent, we need them to survive.' IMI is now expected to become a passive minority investor in the £500m takeover of The Telegraph by RedBird, meaning it will have no governance rights and be unable to appoint directors. The Government will be obliged to intervene and could unwind the deal if it is found to have sought influence. RedBird was the junior financial partner in last year's blocked attempt, but has since agreed to increase its outlay to become the controlling shareholder. Mr Cardinale has also lined up British minority investments from the Daily Mail publisher Lord Rothermere and Sir Leonard Blavatnik, the owner of the sports streaming service Dazn. Ms Nandy is expected to trigger an initial investigation by the media regulator Ofcom of its potential impact on the public interest and by the Competition and Markets Authority of its compliance with the new foreign state investment regime. Their findings will inform Ms Nandy's decision weeks later on whether to demand more in-depth scrutiny, taking about six months. That would mean The Telegraph would not be under new ownership until next year. Lord Fox and Lady Stowell urged the Government to fully scrutinise RedBird's deal. It has faced attacks from Conservatives, including Sir Iain Duncan Smith over the longstanding business links to China held by John Thornton, RedBird's chairman. After his motion to block the legislation was defeated, Lord Fox said: 'The Government's move to force through this legislation in the face of historic cross-party resistance is reckless.' He said the Lib Dems would 'hold the Government's feet to the fire and limit the damage in any way we can'. RedBird is expected to continue to develop ambitious investment and growth plans for The Telegraph as it navigates the regulatory process. Mr Cardinale said: 'At 170 years old, The Telegraph is one of Britain's most iconic cultural institutions and frankly should be one of its greatest cultural exports. 'But The Telegraph can't rely solely on that heritage. If it doesn't proactively look to innovate and find new ways to grow and diversify its subscriber base and other revenue-based verticals, its relevance and important leadership position in the UK and globally will be severely challenged. 'RedBird is the right owner at the right time in this critical fork in the road for The Telegraph. 'RedBird is well-capitalised, has a track record in owning and growing iconic intellectual property businesses, and importantly has a track record in being 'talent-friendly' while also embracing financial growth.'
