London, March 2 (IANS) Liverpool owner Fenway Sports Group (FSG) is on the verge of selling a 10 per cent stake to private equity firm RedBird Capital Partners for around US$750 million, a report said.
The deal with RedBird, which was founded in 2013 by former Goldman Sachs banker Gerry Cardinale, would value the owner of Premier League champions Liverpool and Major League Baseball’s (MLB) Boston Red Sox at “more than $7 billion”, a report on sportspromedia.com said quoting Sportico.com.
“Cardinale has been linked with a minority stake in FSG for some time. It was initially reported that he was trying to acquire a share in the group through RedBall Acquisition Corp, a special purpose acquisition company (SPAC) he established in July alongside baseball executive Billy Beane,” the report said.
“Talks between FSG and RedBall ended in January, although Axios reported at the time that an ‘alternative investment’, structured like a more traditional private equity deal, remained possible,” it said.