Liverpool owners Fenway Sports Group (FSG) have announced a "significant investment" into the company by the firm co-owned by LeBron James, RedBird Capital Partners.
The investment, which sees James become part of FSG's ownership group along with his business partners Maverick Carter and Paul Wachter, will help Liverpool address an estimated £120million loss in revenues during the coronavirus pandemic.
FSG said in a statement that the deal, which is part of an ongoing alliance between FSG and RedBird, would help the group pursue growth opportunities, while underlining a focus on "winning".
"Over the years, Fenway Sports Group has been able to attract a dedicated group of executives and partnerships seeking to compete for titles in the most challenging and rewarding landscapes," read the statement.
"Our strategic partnership with Gerry and the entire team at RedBird will enhance our ability to pursue future growth opportunities in a more accelerated way but with the same selectiveness that has served us so well.
"We are also pleased to welcome to our ownership group LeBron, Maverick and Paul, with whom we have enjoyed a successful collaboration for well over a decade. Their addition is an important milestone for FSG and expands and deepens a longtime friendship and relationship that began in 2010.
"To our fans and supporters: winning continues to be the driving force for all of us. The growth of FSG as an organisation allows us to further strengthen our resources and commitment to the communities we serve, and we look forward to having these talented new partners join us in the next chapter of FSG’s evolution."
FSG, which is valued and $7.4bn and whose leadership is comprised of principal owner John W. Henry, chairman Tom Werner and president Mike Gordon, took control of Liverpool in 2010.
The investment from RedBird, which is reported to be a 10 per cent minority holding, will help the club achieve its ambition of redeveloping the Anfield Road Stand.
Gerry Cardinale, founder and managing partner of RedBird, said, "Fenway Sports Group is unique not only for the quality of its sports properties and assets, but for the highly disciplined, results-oriented organisation that John, Tom, Mike and the FSG team have built over the past 20 years.
"RedBird shares the same passion for performance-driven investing, business operations, fan experience and service to the community. We look forward to contributing our experience growing premier sports properties and working alongside this tremendous leadership team, including our fellow new owners LeBron, Maverick and Paul."
Maverick Carter added: "Working with Fenway Sports Group for the past decade has taught LeBron and me so much about the business on a global scale, and we’ve always believed it would lead to something bigger.
"We are proud to be part of this iconic ownership group and are excited about the opportunities that come with that to continue creating change and empowering people of every race, gender and background to be part of the process."
NBA: Heat get even with Celtics; Thunder roll Pelicans for 2-0 lead
Tyler Herro had 24 points and 14 assists and hit six of Miami’s franchise playoff-record 23 3-pointers as the Heat defeated the Boston Celtics, 111-101, to even their first-round series at a game apiece on Wednesday.
Bam Adebayo had 21 points and 10 rebounds and Caleb Martin added 21 points with five 3s for the Heat, who shot 53.5 percent (23 of 43) from long range to break the franchise playoff record of 20 3s, set against Milwaukee in 2021.
Jaime Jaquez Jr. contributed 14 points with three 3s, Nikola Jovic added a trio of 3s, nine rebounds and six assists and Haywood Highsmith came off the bench to hit three 3s.
The series shifts to Miami for Games 3 and 4 on Saturday and Monday.
Jaylen Brown scored 33 points and Jayson Tatum added 28 for the top-seeded Celtics, who cut Miami’s lead to 102-96 with three minutes left. But Martin hit a 3 and Herro made a driving layup to essentially seal the win.
Tatum scored 14 points in the first quarter and showed no ill effects after he was undercut by Martin while going after a rebound in the final minute in Game 1.
Gilgeous-Alexander, Holmgren power Thunder
Shai Gilgeous-Alexander scored 33 points and Chet Holmgren added 26 to lead the hot-shooting Oklahoma City Thunder to a 124-92 rout of the New Orleans Pelicans and a 2-0 lead in their Western Conference first-round series.
Jalen Williams had 21 points, seven assists and five rebounds for the Thunder, who shot 59 percent (46 for 78) from the floor and made 14 of 29 (48.3 percent) from 3-point range.
Game 3 will be Sunday in New Orleans.
Jonas Valanciunas had 19 points and Herbert Jones and Brandon Ingram each added 18 as the Pelicans continued to struggle offensively without injured star Zion Williamson (strained left hamstring).
New Orleans missed 19 of 26 from beyond the arc and made 33 field goals to 46 for Oklahoma City.
Coventry City 2-3 Hull City: Tigers win five-goal thriller to keep play-off hopes alive
Hull City kept their hopes of gatecrashing the Championship play-offs alive with a thrilling 3-2 win over beaten FA Cup semi-finalists Coventry City on Wednesday.
Noah Ohio scored the winner with his first touch after coming on as a second-half substitute as Hull moved within three points of sixth-placed Norwich City with two games to play.
Coventry, meanwhile, saw their own hopes of returning to Wembley Stadium for a second successive play-off final all but ended, as they sit six points further back with three matches remaining.
Three days on from their remarkable comeback against Manchester United, the Sky Blues twice fought back to level things at Coventry Building Society Arena. Jaden Philogene's shot squirmed under goalkeeper Bradley Collins to put Hull ahead 31 minutes in, but Kasey Palmer levelled within five minutes with a stunning free-kick.
Hull went back ahead in controversial circumstances on the stroke of half-time, Liverpool loanee Fabio Carvalho converting from the penalty spot despite replays showing Joel Latibeaudiere's foul on Liam Delap took place outside the area.
Mark Robins' men again dragged themselves back into the game as Bobby Thomas headed Jay Dasilva's cross in just before the hour mark, but it was Liam Rosenior's visitors who found a winner.
Thomas went from hero to villain as his poor back pass sold Collins short, and Ohio got a toe to the ball to score the winner, keeping Hull's hopes of Premier League football intact.
Van Dijk: Liverpool have 'no chance' in title race after derby defeat
Virgil van Dijk conceded Liverpool might be out of the Premier League title race after they suffered a surprise 2-0 defeat to Everton in Wednesday's Merseyside derby.
Jarrad Branthwaite and Dominic Calvert-Lewin scored in either half to give the Toffees their first win over Liverpool at Goodison Park since 2010.
Liverpool struggled to find a way through the Toffees' defence despite dominating for long periods, and the Reds' captain says they will not outlast Arsenal and Manchester City without major improvements.
Speaking to Sky Sports, Van Dijk said: "If we play like today, then we have no chance to consider ourselves in the title race.
"We have to just focus on the next game and that will be a tough one anyway, so we will see.
"We're very disappointed, in so many ways. I think everyone has to look at their own performances. Did they really give everything, and do they really want to win the league?
"We're still fighting and there are still games after tonight, but if we play like we did overall in the game today – not winning challenges and giving the referee a chance to give free-kicks like he did many times, then you have no chance to win the title."
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