Liverpool owners Fenway Sports Group (FSG) have held talks over acquiring a majority stake in a deal expected to be worth more than £2bn
FSG
Liverpool owners run a sports and media group far larger than the football club. The Guardian has now reported on the latest move in that wider portfolio.
Fenway Sports Group (FSG) holds majority stakes in baseball’s Boston Red Sox and the NHL’s Pittsburgh Penguins. It also owns 50% of the NASCAR team RFK Racing.
Its portfolio includes the sponsorship firm Fenway Sports Management and the golf team TGL Boston.
The group’s network also reaches into sports streaming through one of its partners.
On 26 August, DAZN announced it had agreed to acquire EverPass Media, a US commercial sports distribution platform founded in 2023 by 32 Equity and RedBird Capital Partners. RedBird, 32 Equity and TKO Group Holdings will become minority shareholders in DAZN.
RedBird invested $750m in FSG in 2021 for an 11% stake. That makes it an indirect part-owner of Liverpool. FSG itself is not named among DAZN’s new shareholders.
DAZN already streams Premier League football internationally. It described the deal as another link between the club’s ownership circle and the wider sports media industry.
The Guardian’s latest report concerns Formula One.
FSG has held talks about buying a majority stake in the Cadillac F1 team for more than £2bn, as Mark Walter continues to sell his sporting assets amid allegations of insurance fraud.
Cadillac entered F1 this year as a joint venture between General Motors and Walter’s TWG Global. TWG sold its controlling interest in the Los Angeles Lakers and a 13% stake in Chelsea this summer.
Walter is under investigation by the US Department of Justice and the Securities and Exchange Commission over alleged fraud involving funds at his insurance companies. TWG has said there has been no fraud.
TWG has denied that a sale of Cadillac is imminent, but the Guardian learned it has held talks with several interested parties, including FSG.
A source with knowledge of FSG’s plans said the group is looking at other sporting investments after selling 38% of Liverpool this summer.
The source said F1’s growth over the last decade, particularly in the US, has attracted FSG. F1’s annual revenue has more than doubled to $4bn (£3bn) since Liberty Media bought the sport in 2017.
The Guardian refers to a majority stake, while the Wall Street Journal reported that FSG is among several parties discussing the purchase of part of Walter’s stake.
The talks follow a major change at Anfield. FSG sold 38% of Liverpool to 1892 Holdings, a consortium led by Amit Bhatia that includes Jeff Bezos and Eduardo Saverin.
The deal values the club at £5.5bn, and the group has the option to complete a full takeover before August 2027.
The consortium is backed by the Mittal Family Trusts, the Saverin family office EE Capital and K5 Sports, where Bezos is the lead investor. FSG said it would retain majority ownership and operational control of Liverpool.
The Guardian reported that a move into Cadillac could have implications for FSG’s position at Liverpool. The club is now worth far more than the £300m FSG paid for it in 2010.
Cadillac sit bottom of the constructors’ championship in their debut season and have yet to score a point.
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