Fenway Sports Group, the owner of Liverpool football club and baseball’s Boston Red Sox, will seek to acquire more professional sports teams and potentially a future stock market listing after securing new investment that values the US group at $7.35bn.
Earlier this week, private investment group RedBird Capital and basketball star LeBron James acquired minority stakes in FSG, in a transaction that confirms its position as one of the most valuable ownership groups in global sport.
FSG chairman Tom Werner and RedBird founder Gerry Cardinale committed to using the new capital to buy teams in other leagues, such as North America’s National Basketball Association and National Hockey League, as well as elsewhere in European football.
Source: Financial Times
By Sara Germano and James Fontanella-Khan in New York and Murad Ahmed in
