FSG
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RedBird Capital is nearing a deal to acquire more than 10% of Fenway Sports Group for approximately $750 million, according to individuals familiar with the matter. The deal values the owner of the Boston Red Sox and Liverpool FC at more than $7 billion, according the people, who were granted anonymity because the matter is private. It would be the latest sports-related investment for RedBird, following the acquisition of Toulouse FC and the XFL, which is scheduled to relaunch in 2022.
RedBird founder Gerry Cardinale for some time has been trying to acquire a piece of Fenway, which is controlled by John Henry. Cardinale and Red Sox executive Sam Kennedy declined to comment. A SPAC, with $575 million in capital, led by Cardinale and Oakland A’s executive Billy Beane, had been in negotiations to acquire a portion of Fenway earlier this year, in a deal that would have valued the company at $8 billion. Those talks ultimately led to the private investment by RedBird. The deal will likely close in the next six weeks.
Fenway Sport Group boasts a portfolio of successful sports franchises. The Boston Red Sox have won three World Series this century and are a New England institution, drawing more than 2.9 million fans in 2019, more than 96% of its home field capacity. Liverpool, meanwhile, are the defending Premier League champions and considered one of the ‘Big 6’ teams that historically rule English soccer. Fenway also owns Rausch Fenway Racing, one of the more successful auto racing teams in NASCAR, as well as the New England Sports Network. FSG also owns Fenway Park and some surrounding lots in central Boston, as well a marketing group that owns half of LeBron James’s marketing and brand rights.
Cardinale is also a stakeholder in the OneTeam Collective, along with the NFLPA and the MLBPA. It’s unclear if there would be any conflict in holding stakes in both ownership and union properties. RedBird also owns a stake of the Yankees Entertainment and Sports Network, the regional broadcaster of the Red Sox rival New York Yankees. Cardinale entered that business in a 2019 deal valuing YES at $3.47 billion. Earlier this month RedBird bought a sizable minority stake in Wasserman Media Group, a sports marketing and talent agency.
RedBird founder Gerry Cardinale for some time has been trying to acquire a piece of Fenway, which is controlled by John Henry. Cardinale and Red Sox executive Sam Kennedy declined to comment. A SPAC, with $575 million in capital, led by Cardinale and Oakland A’s executive Billy Beane, had been in negotiations to acquire a portion of Fenway earlier this year, in a deal that would have valued the company at $8 billion. Those talks ultimately led to the private investment by RedBird. The deal will likely close in the next six weeks.
Fenway Sport Group boasts a portfolio of successful sports franchises. The Boston Red Sox have won three World Series this century and are a New England institution, drawing more than 2.9 million fans in 2019, more than 96% of its home field capacity. Liverpool, meanwhile, are the defending Premier League champions and considered one of the ‘Big 6’ teams that historically rule English soccer. Fenway also owns Rausch Fenway Racing, one of the more successful auto racing teams in NASCAR, as well as the New England Sports Network. FSG also owns Fenway Park and some surrounding lots in central Boston, as well a marketing group that owns half of LeBron James’s marketing and brand rights.
Cardinale is also a stakeholder in the OneTeam Collective, along with the NFLPA and the MLBPA. It’s unclear if there would be any conflict in holding stakes in both ownership and union properties. RedBird also owns a stake of the Yankees Entertainment and Sports Network, the regional broadcaster of the Red Sox rival New York Yankees. Cardinale entered that business in a 2019 deal valuing YES at $3.47 billion. Earlier this month RedBird bought a sizable minority stake in Wasserman Media Group, a sports marketing and talent agency.
Would we have coasted if not for covid though?
Hard to say. We invested more this off-season than the previous one.
No. But we'd have won it - no coasted, but win it - without all these fucking injuries.
I think the bigger picture is how much more we would have had to pay for our number one target out of desperation compared to what we needed now which was really bodies. We actually did need two CB's once we knew Matip was no longer going to be available for the rest of this season. The number one targets would probably not be available to us, and I certainly don't agree on spending 100M on a 29 year old if reports were true on that fella from Napoli. Also I don't disagree with us taking a punt on the likes of Mini, and that Greek guy, but it is also unfair to judge that Greek guy right now as he is competing for a position with what can be argued as the worlds best right back (well one of the worlds best) in Robbo. All that bollox said - I am dying to see what Ben Davies is like in a game.
Man City with Foden, Silva and Aguero on the sub bench yesterday, Tuchel making five changes to his starting line-up today. Really highlights the overachievement of Klopp given the resources he has (even prior to this season's injury nightmare).
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FSG reminds me of a slicker, well oiled version of Mike Ashley
That's crazy. We have a world class training facility and have fixed a stadium issue we've dithered over for decades.
Slicker, well oiled version of Mike Ashley is not necessarily a bad thing?
From no money to spend to transfer deadline offers to promising to back Klopp in the next transfer window. 🙄
I understand your skepticism however they've had investment Redbird capital, so money is there now. The fans are unhappy, but I'd expect sponsors will be equally unhappy at the regression this season, so there is a need to placate them too.
Much as Rosco would like to see Klopp go - there isn't anyone better.
Just looking at this latest transfer window alone, did we really need 20+ days to find the money to bid for Caleta-Car? If Matip hadn't suffered his latest (& long term) injury, I'm quite sure we won't even see Kabak and/or Davies.
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https://www.anfieldwatch.co.uk/excl...-on-haaland-mbappe-outgoings-vvd-return-more/
[article]Did Liverpool make a genuine mistake in the January transfer market by not acting sooner?
Without doubt. My information is that they weren’t going to sign a centre-back at all until Joel Matip suffered his injury at Tottenham, which means that if he’d have lasted just a few days longer before picking up that problem then Liverpool would have spent some of the run-in using a partnership of Nat Phillips and Rhys Williams. How is it possible that Matip was expected to get to the end of the campaign given his injury record? And why wasn’t a top-class centre-half sought earlier on to give this squad a chance of a top-four finish?
Duje Caleta-Car didn’t end up at Anfield because Marseille didn’t feel they had enough time to source a replacement, and that meant Liverpool settling on Ozan Kabak who, while talented, was a 20-year-old coming in from a struggling team with huge expectations on his shoulders. For a club that prides itself on its planning, that’s pretty poor.[/article]
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They didn’t sell those shares to increase their capital. They sold shares that they personally owned, so the money will line their pockets.
I'm glad they're finally getting some negative press. They deserve it.
I'm grateful for all the good stuff they've done - not so quick to forget that we've had an amazing couple of years - but it's beyond frustrating to watch the first real championship team we've had in ages collapse due to mismanagement.
I'm grateful for all the good stuff they've done - not so quick to forget that we've had an amazing couple of years - but it's beyond frustrating to watch the first real championship team we've had in ages collapse due to mismanagement.
More likely that they realise that they haven't backed him like they should have done and are going to do so.
You don't get rid of a manager you have been chasing for years and know is perfect and key to the way you want your club to play/run etc.
Agreed, you dont give up on one of the greatest managers around. You back him. Again.
Maybe so, from the standpoint of Redbird Capital, they'd like to see success on the pitch as it drives up the value of the club. Everyone from sponsors, fans and investors know Klopp cannot be blamed for the way this season has gone. Failure to invest in the squad and at crucial times has regressed the club.
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What would be ideal for me is if the owners took the heat off Klopp by coming out publicly & saying that they should have backed him in the summer & they were at fault for not doing so.
They're fight-fisted, we all know this.
But I do think we have some intelligent guys at the helm.
The likes of Edwards will know, if he wants continued praise, we need a mini squad overhaul.
4 or 5 out. 4 or 5 in.
Yep this what has annoyed me the most, Klopp has made mistakes but has been there fronting it every press conference.
Yet John Henry and Co are happy to tweet when winning but they been quiet as anything over the last 6 months and that doesn’t include the transfer spend.
It truelly is a lonely life for Klopp without fans in stadium.
All in the effort to add more value to the club for when it comes to off loading it...
Where is the backing for the manager to bring in players...
Sounds Mick Ashley'ish to me
All so notice in the football gossip that they are saying that Liverpool will make an appoach for Kylian Mbappe should Salah leave the club...
My view on that is they will give Klopp the money, and as M'bappe may cost what we get for Salah (I believe he will cost more) we will not be getting him
Or if we somehow manage to secure the same money as M'bappe will cost we will only be able to bring in other player by selling The Ox, Origi Shaqiri and anyone else that we may get a couple of pound for.
Kabak, Philips, Davis, and Willaims by defualt (on going injuries to Matip and Gomez) will be our main starting CB next season along side VVD
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So Mike Ashley for you connotes someone who makes investments hoping to profit on them? Fuck, I'm Mike Ashley too.
Mike Ashley has been shit at his job, and not spent well, and got his club relegated repeatedly. He's not supported great managers, then appointed useless ones, then given them millions. He's a spectacular failure and universally reviled by supporters.
Fsg are running a club quite well, and reinvesting profits. They aren't going to bankroll the club in the manner of other vanity owners.
They are certainly not beyond criticism by any means and what they did last year especially was incredibly conservative. But all of their major investments were bleeding, and it was just horrible timing. It's a world historical moment though.
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you say tomato and i say tomato
You say tomato (That's pronounced Tom- mate-o) and i say tomato
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