RedBird Invests in Fenway Sports Group

RedBird invests in Fenway Sports Group (FSG). The private investment company is doing this along with NBA star LeBron James. This deal values Liverpool FC and Boston Red Sox's parent company at $7.35 billion. James, businessman Maverick Carter and their business partner Paul Wachter will become part of FSG's ownership group along with RedBird. James confirmed he and Carter will become the first two Black men to be a part of the FSG ownership group.

The trio had previously held minority stakes in Liverpool FC. This deal will see them exchange those for a minority ownership position in FSG. The deal comes after Fenway Sports ended talks to sell a minority stake in January to RedBall Acquisition Corp RBAC.N. This is a a blank-check firm co-chaired by baseball executive Billy Beane.
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