Liverpool News

LeBron James Increases Stake in Liverpool as Owners Fenway Sports Group Confirm RedBird Investment

Amreen
Apr 1, 2021, 1:52 PM GMT+5:30
NBA star Lebron James will become part of FSG's ownership group
NBA star Lebron James will become part of FSG's ownership group | AFP/Getty Images
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Liverpool's owners Fenway Sports Group have confirmed a "significant investment" by RedBird Capital Partners which will see NBA legend LeBron James become a part of the Reds' ownership group.

FSG have revealed that the deal will see RedBird Capital acquire more than 10 percent of the company, with them investing $750million (£538.6m) into FSG to help Liverpool following a topsy-turvy year, which saw the defending Premier League champions suffer an estimated £120m loss in revenues during the coronavirus pandemic.

FSG's principal owner John W Henry, chairman Tom Werner, and president Mike Gordon said in a statement: "Our strategic partnership with Gerry [Cardinale - founder and managing partner of RedBird], and the entire team 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.

"We are also pleased to welcome to our ownership group LeBron, Maverick and Paul, with whom we have enjoyed a successful collaboration for well over a decade. Their addition is an important milestone for FSG and expands and deepens a long-time friendship and relationship that began in 2010.

"To our fans and supporters: Winning continues to be the driving force for all of us. The growth of FSG as an organisation allows us to further strengthen our resources and commitment to the communities we serve, and we look forward to having these talented new partners join us in the next chapter of FSG's evolution."

FSG, who also own the Boston Red Sox, took complete control of Liverpool in 2010.

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