Eric Grubman: Range Of Businesses SPAC Will Acquire "Pretty Wide"

Sports Entertainment Acquisition Corp. Chair & CFO Eric Grubman said the SPAC he helped create is looking for “sports and entertainment and the technology and services that are associated with those verticals” to acquire. Grubman: “If you draw the picture of all of the things that could be in it, it’s pretty wide. ... It could be directly into sports and entertainment, or it could be into an enabling technology.” Grubman: “I’m not smart enough to know what market we’ll be in six months, 12 months, 18 months from now. And frankly, I wasn’t smart enough to know what market we’d be in a week after we did the public offering. I’m smart enough to know about businesses that we can understand. ... I thought it was worth a bet on myself (and my partners).” Grubman: “If you look at sports and entertainment, it has had a tremendous amount of private capital. But it "hasn’t had a tremendous amount of public capital associated with it" (“Mad Money,” CNBC, 10/12).