Billion-dollar investment funds and N.F.L. ownership groups are among those angling for a foothold in the Indian Premier League. The returns, not the sport, are the draw.
In the decade since he founded the private investment firm RedBird Capital Partners, Gerry Cardinale has acquired stakes in sports properties as varied as Fenway Sports Group, the Yankees’ YES Network and the Italian soccer team A.C. Milan. One of his partners at RedBird, Alec Scheiner, previously worked as a vice president of the N.