Red Sox Owners Receive Investment From RedBird, LeBron James
(Bloomberg) -- Boston Red Sox owner Fenway Sports Group received an investment from RedBird Capital Partners and said a group including Los Angeles Lakers star LeBron James will become shareholders as well.
Terms of the RedBird deal weren’t given, but Fenway Sports Group said Wednesday that the transaction gave the company an enterprise value of $7.35 billion. Led by billionaire John Henry, Fenway Sports also owns the Liverpool Football Club, Fenway Park and a 50% stake in Nascar’s Roush Fensy Racing, among other assets.
The company will look for growth opportunities in complementary lines of business, including teams, venues and media. As part of deal, James, Maverick Carter and their longtime business partner Paul Wachter will exchange a previously held interest in Liverpool Football Club and become part of FSG’s ownership group along with RedBird.
RedBird, founded by former Goldman Sachs Group Inc. partner Gerry Cardinale, manages about $5 billion, principally in sports, financial services, consumer businesses and telecommunications and media.
Dow Jones reported on March 17 that RedBird was planning to invest $750 million in FSG.
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