XM MLB Chat: Goldman Sachs involved in Yankee-Cowboy hot dog deal

"The New York Yankees, Dallas Cowboys, Goldman Sachs (GS

), and CIC Partners today announced that they have founded Legends Hospitality Management, LLC (”Legends”), a new company that will offer a broad range of sports business services....

In the midst of the largest financial crisis in U.S. history, here’s Goldman Sachs announcing a partnership in a new hospitality company.
The timing and constituents of this deal couldn’t have been any more bizarre. These are three organizations that many people have put on their dart boards, all uniting in this quirky venture."...

Goldman Sachs raised $100 million for this deal just 2 weeks ago:

"The teams will each own a third of the venture, with Goldman owning most of the rest, according to a source familiar with the plans who asked not to be identified. Legends raised $100 million about two weeks ago in a debt sale managed by Goldman, the source said."

(Was this part of the taxpayer bailout money Goldman got?) sm

Gerald Cardinale (of YES Network and Goldman Sachs) is noted in facilitating the deal. He was also an Arod intermediary after the opt-out. Finally, Randy Levine says some revenue will be shared:

"Gerald Cardinale of Goldman Sachs, who has worked with the Yankees and their YES Network, first pitched the idea more than a year ago....

Yankees president Randy Levine said his team will have a "market-rate" rights agreement with Legends, and that money will be subject to Major League Baseball revenue-sharing. But the company's profits will not."