Liverpool FC owner scores with RedBird investment for stake in FSG
Liverpool’s owners Fenway Sports Group has announced a ‘significant investment’ into the company by RedBird Capital Partners.
As part of the overall transaction, NBA star and basketball legend LeBron James, Maverick Carter and their long time business partner Paul Wachter will exchange a previously held interest in Liverpool Football Club and become part of FSG’s ownership group along with RedBird.
Last month it was revealed James had become a minor partner in FSG after investing in the group, which also owns the Boston Red Sox.
James has been a part-owner of Liverpool FC since 2011 and has a 2 per cent stake in the club, which he bought for £4.7m.
Liverpool’s owners believe the deal with Redbird will provide continuity and stability for the organisation while also growth opportunities for FSG.
The investment by RedBird, founded by Gerry Cardinale, into FSG is based on an enterprise valuation for FSG of $7.35bn.
FSG leadership, which includes principal owner John W. Henry, chairman Tom Werner and president Mike Gordon, said: “Over the years, Fenway Sports Group has been able to attract a dedicated group of executives and partnerships seeking to compete for titles in the most challenging and rewarding landscapes.
“Our strategic partnership with Gerry and the entire team at RedBird will enhance our ability to pursue future growth opportunities in a more accelerated way but with the same selectiveness that has served us so well.
“We are also pleased to welcome to our ownership group LeBron, Maverick and Paul, with whom we have enjoyed a successful collaboration for well over a decade.
“Their addition is an important milestone for FSG and expands and deepens a longtime friendship and relationship that began in 2010.
“To our fans and supporters: Winning continues to be the driving force for all of us. The growth of FSG as an organization allows us to further strengthen our resources and commitment to the communities we serve, and we look forward to having these talented new partners join us in the next chapter of FSG’s evolution.”