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Knighthead Capital, the owner of Birmingham City Football Club, has acquired a significant ownership stake in a netball team in another step towards its goal of creating a £3bn sports quarter.
The company, which is backed by NFL legend Tom Brady, has confirmed its investment in the Netball Super League's Birmingham Panthers.
The move follows its recent acquisition of the Birmingham Phoenix cricket team, as reported by Insider Media.
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"Our operations in Birmingham and the West Midlands are guided by the core principle that sport has a unique ability to bring people together," said Thomas Wagner, co-founder and co-managing member of Knighthead Capital.
"Netball is a sport on the rise and adding it to our portfolio is another step towards our ultimate ambition, a Sports Quarter that will promote investment and create jobs, growth and opportunities at an unprecedented scale in East Birmingham."
Alison Kay, co-founder of the Birmingham Panthers, added: "We are absolutely thrilled to have Knighthead's support and belief in the Birmingham Panthers.
"This partnership marks a significant step forward, not only for our club but for the growth of netball as a whole. Their support will allow us to strengthen our foundations, expand our reach, and inspire the next generation of players and fans.
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"It's an exciting time for the sport, and we're eager to see the impact this collaboration will have on both our team and the wider netball community."
Knighthead's sports quarter plans, which will replace Birmingham City's existing home at St Andrew’s, is a five-year vision to create not only a 60,000-seater stadium, but training facilities, hotels, hospitality venues and an entertainment arena. The aim is for it to eventually host international matches, concerts and NFL American football games.