A new investment group including NBA champion Lebron James have become minority owners of Liverpool FC and the Red Sox.
After months of negotiations, a deal that sees RedBird Capital become minority stakeholders within Fenway Sports Group—the owners of Liverpool and the Red Sox—has been completed. The merger will see the value of FSG raised to $7.35 billion.
Who is RedBird Capital
RedBird Capital is a private investment group that counts Los Angeles Lakers star Lebron James among its associates. The group was founded in 2014 by a former Goldman Sachs executive.
Previously, James has held a “minority position” at FSG and Liverpool, which allowed him to learn about the business and administrative side of sports. Now, he has officially become a part owner.
John Henry, the principle owner of FSG, said in a statement that the partnership with 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.
The merger announcement will have Liverpool fans feeling optimistic their club can sign more players in the summer, including RB Leipzig defender Ibrahima Konaté. Currently, the reigning English champions are having a poor season that finds them in seventh.
Money spent on player acquisitions
The club’s spending on player acquisitions has significantly decreased in the past two seasons. Liverpool spent approximately £100 million on transfers since 2019.
The two seasons before that saw them spend over £200 million on players including the likes of Virgil van Dijk, Mohamed Salah, and Allison. To offset the high amount of spending, they sold players for high fees, such as when Philippe Coutinho went to Barcelona for over £105 million.