Rays co-owner forms SPAC, seeks sports business
December 23, 2021 - Tampa Bay Rays co-owner Randy Frankel is part of a team that has formed a Special Purpose Acquisition Company, or SPAC, seeking to acquire a sports business - specifically, a European football club. According to a preliminary prospectus filed Tuesday through the Securities Exchange Commission, the SPAC, Counter Press Acquisition, seeks to raise $75 million through an initial public offering. Paul Conway, the SPAC’s CEO, is the co-founder of Pacific Media Group, a financier and distributor of movies such as Ad Astra and The Martian. Joining Frankel and Conway is LA Dodgers executive Andrew Friedman, who previously served as the Rays president of baseball operations. Friedman is well known for being at the forefront of using data analytics in MLB. Rounding out the group is Julie Uhrman, co-founder of the Angel City Football Club, an LA-based National Women’s Soccer League franchise that debuts in 2022.