KEY EVENTFSG confirm RedBird investment dealFenway Sports Group have confirmed a deal that will see RedBird Capital acquire more than 10 per cent of the Liverpool owners' company. The agreement will see RedBird invest $750m (£538.6m) into FSG to enable them to continue operating at the cutting edge of Premier League football at a time when finances across global sport have taken a sharp downturn because of the coronavirus pandemic. The investment is based on an enterprise valuation for FSG of $7.35billion (£5.38bn) and also sees a formal welcoming on board for basketball superstar LeBron James, his associate Maverick Carter and their longtime business partner, Paul Wachter. FSG had been in talks with the special purpose acquisition company (SPAC), which is founded by American billionaire, Gerry Cardinale, and baseball analytics guru, Billy Beane, since around October. And now the Boston-based ownership group of the Reds have confirmed an agreement that will be widely welcomed from those connected to Liverpool FC.

Source: Metro March 31, 2021 05:01 UTC