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Draft:Gerry Cardinale

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Gerry Cardinale
Born (1967-05-08) May 8, 1967 (age 57)
Villanova, Pennsylvania
Education
Occupations
Websitehttps://redbirdcap.com/

Gerald Joseph Cardinale (born May 8th, 1967) is an American businessman, private equity investor and philanthropist. Cardinale is the Founder, Managing Partner and Chief Investment Officer of RedBird Capital Partners LLC.

Early Life and Education

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Cardinale was born in Villanova, Pennsylvania and studied at Harvard University and at Oxford University as a Rhodes Scholar.[1] He was a rower at Harvard and on the Oxford men's reserve crew, Isis, in the 1990 Oxford-Cambridge Boat Race.[2]

After graduating from Oxford, he received a fellowship to work in Tokyo for the Japan Institute of International Affairs, an affiliate of the Japanese Foreign Ministry.[3]

Career

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Cardinale began his professional career at Goldman Sachs in 1992[4] and transferred to the firm's Merchant Banking Division in 1994, where he helped build the firm's investment business in Hong Kong, China and Singapore. He returned to New York in 1997 and was elected Partner in 2004. He was responsible for investments across a range of industries and investment types. He worked with entrepreneurs and family business owners to build several multi-billion-dollar companies.[5]

Cardinale worked with New York Yankees Owner George Steinbrenner to create the Yankees Entertainment & Sports ("YES") Network in 2001. Cardinale led the deal process between the Yankees, Goldman Sachs and other investors, culminating in the sale of the network to News Corporation in 2012 for a total value of $3.4 billion.[4][6][7]

Cardinale also created a partnership with the New York Yankees and Dallas Cowboys Owner Jerry Jones to create Legends Hospitality in 2008.[8][4][9]

RedBird Capital Partners

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Following Cardinale's retirement from Goldman Sachs in 2012, he launched RedBird Capital Partners, a private investment firm that focuses on dealmaking and business growth in sports, media, entertainment and financial services.[4][10]

Notable investments include the Italian professional football club AC Milan that competes in Serie A, where Cardinale is the owner and on the Board of Directors.[4] The company is an investor in Skydance Entertainment, which has a pending investment in the Hollywood studio Paramount Global.[11][12] The company also has stakes in Fenway Sports Group and the United Football League.[13]

In 2015, Cardinale worked with team owners in the National Football League to create On Location Experiences, which offered premium live experiences across the NFL and other sports. On Location Experiences was sold to Ari Emanuel's Endeavor in 2020 for $660 million.[14]

Cardinale is also active in content production in the film and television industry, and is a co-founder along with Ben Affleck and Matt Damon of Artists Equity, which released 2023's Air.[15]

Personal Life and Philanthropy

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Cardinale and his family live in Palm Beach, Florida.[16]

He is on the boards of the Mount Sinai Health System and the US Rowing Foundation.[2][5]

References

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  1. ^ "Rhodes Scholars in Athletics". Harvard University. Retrieved 2024-11-07.
  2. ^ a b "USRowing Foundation Adds Gerry Cardinale as Trustee". USRowing. Retrieved 2024-11-07.
  3. ^ Cardinale, Gerald J. (1992). "Through the Japanese Looking Glass". Asian Survey. 32 (7): 635–648. doi:10.2307/2644946. ISSN 0004-4687. JSTOR 2644946.
  4. ^ a b c d e Cuccinello, Dakin Campbell, Hayley. "How Gerry Cardinale became the go-to dealmaker for the Yankees, AC Milan, and Ben Affleck". Business Insider. Retrieved 2024-11-07.{{cite web}}: CS1 maint: multiple names: authors list (link)
  5. ^ a b Craig, Susanne (2012-06-15). "More Goldman Partners Head for the Exit". DealBook. Retrieved 2024-11-07.
  6. ^ "News Corp. Completes Deal For Stake In YES Network, Reportedly Will Pay Yankees $500M". www.sportsbusinessjournal.com. 2012-11-21. Retrieved 2024-11-20.
  7. ^ Ozanian, Mike. "YES Network Sale To News Corp Saves Murdoch And Steinbrenner A Fortune In Fees". Forbes. Retrieved 2024-11-20.
  8. ^ "The Deal Episode 6: Gerry Cardinale - Bloomberg". www.bloomberg.com. Retrieved 2024-11-07.
  9. ^ Lariviere, David. "NFL Tabs George Pyne, Gerry Cardinale To Grow Premium Events, Hospitality Business". Forbes. Retrieved 2024-11-07.
  10. ^ Campbell, Hayley Cuccinello, Dakin. "The private-equity firm behind Italian soccer champs AC Milan is quietly building a financial services powerhouse". Business Insider. Retrieved 2024-11-20.{{cite web}}: CS1 maint: multiple names: authors list (link)
  11. ^ Zillman, Paolo Confino,Claire. "Meet Gerry Cardinale, the investor behind Skydance Media's bid for Paramount". Fortune. Retrieved 2024-11-07.{{cite web}}: CS1 maint: multiple names: authors list (link)
  12. ^ Rizzo, Lillian (2024-07-08). "Paramount agrees to merge with Skydance, ending monthslong negotiations and Redstone era". CNBC. Retrieved 2024-11-07.
  13. ^ Weprin, Alex (2023-12-31). "Combined XFL and USFL to be Called UFL, Will Air Games on Fox and ESPN Platforms Starting in 2024". The Hollywood Reporter. Retrieved 2024-11-07.
  14. ^ Sun, Rebecca (2020-01-02). "Endeavor Acquires On Location Experiences in $660M Deal". The Hollywood Reporter. Retrieved 2024-11-20.
  15. ^ Crupi, Anthony (2023-03-24). "With 'Air,' Gerry Cardinale Is Ready for His Close-Up". Sportico.com. Retrieved 2024-11-07.
  16. ^ Fontanella-Khan, James (2024-02-19). "'The one thing I've always had is deal flow': RedBird's Gerry Cardinale". Financial Times. Retrieved 2024-11-07.