Liverpool FC owner valued at $7.4bn in deal with LeBron James and RedBird


Basketball star LeBron James and private investment group Red Bird Capital acquire a minority stake in Fenway Sports Group to raise the corporate value of Liverpool FC and Boston Red Sox-owned vehicles to $ 7.35 billion I did.

The deal, scheduled to close on Wednesday, follows months of talks between the sports-focused Red Bird and the FSG.Financial Times Previously reported The two sides were discussing minority interests after the collapse of previous attempts to list FSG through a Red Bird-affiliated special acquisition company.

Four-time NBA champion and current Los Angeles Lakers star James and business associates Maverick Carter and Paul Watcher have previously held minority positions at Liverpool FC. The deal will see them exchange them for FSG minority shareholder status.

The deal consolidates and emphasizes FSG as one of the most valuable beings in the sports world. Rush by private capital groups To the industry.

John Henry, Homebrew millionaire The main owners of the FSG welcomed their new partners in a statement and this investment “pursues in a way that further accelerates future growth opportunities, but with the same selectivity that has been very helpful to us. Will enhance your ability. “

The ever-increasing reputation of leagues and clubs limits the pool of potential investors who can or are willing to buy a majority stake at a multi-billion dollar price tag. At the same time, the challenges posed by the pandemic have made existing owners and leagues more open to new capital.

The deal will take place after RedBird fails to reach a deal that exposes the FSG by merging with the investment group’s special purchase acquisition company, RedBall.

RedBird Capital was founded in 2014 by Gerry Cardinale, a former Goldman Sachs executive. Last year he teamed up with Billy Beane — a baseball executive who was the subject of the best-selling Michael Lewis book. Money ballLater became a movie starring Brad Pitt — launched RedBall to buy a sports company and raised $ 575 million on the New York Stock Exchange. A blank check group is planning to trade again this year, one explained.

Liverpool FC owner valued at $7.4bn in deal with LeBron James and RedBird Source link Liverpool FC owner valued at $7.4bn in deal with LeBron James and RedBird. 


Arab Observer

Related Articles

Back to top button