EPL

LeBron James' RedBird Capital makes Liverpool investment

By Sports Desk March 31, 2021

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."

Related items

  • Durant no longer driven by titles as Nets eye NBA championship Durant no longer driven by titles as Nets eye NBA championship

    Brooklyn Nets superstar Kevin Durant said he is no longer motivated by titles, with the former NBA MVP focused on development and further improvement.

    Durant has won it all in his illustrious basketball career – two championships and two NBA Finals MVP awards, to go with his 2014 Most Valuable Player gong and 11 All-Star selections.

    The 32-year-old arrived in Brooklyn in 2019, having claimed both of his NBA titles with the Golden State Warriors.

    Having battled Achilles and hamstring injuries during his time with the star-studded Nets – who are eyeing their maiden championship – Durant said he is not driven by silverware.

    "I wasn't expecting to be a happy human being from a title," Durant told ESPN. "I was just expecting like, you know, the ending of a movie -- once you worked so hard and everybody tells you like, 'Yo, this is what you need to be working for, is this gold ball and these rings'.

    "And I'm just like, 'All right, cool, let me lock in on that.' And I locked in on wanting to achieve that, but I also realised it's a lot of stuff that factors in it that's out of my control.

    "And once I won a championship [with Golden State], I realised that, like, my view on this game is really about development. Like, how good can I be? It's not about, you know, let's go get this championship.

    "I appreciate that stuff and I want to win to experience that stuff, but it's not the end-all, be-all of why I play the game."

    Durant added: "I've been around, been out of the game for two years and having anxiety about like, 'What am I doing when I get back?

    "Being out with an Achilles has you thinking about the game differently. And my goal is to be out there, you know. Who knows what's gonna happen when I'm out there.

    "I just want to be available. And I think that's all I really want out of this, to be available for as long as I can. And we'll see what happens between the lines."

    Durant is averaging 28.4 points, 7.3 rebounds and 5.3 assists for the Nets this season, while he is boasting a career-best three-point percentage (44.3).

    The Nets (36-16) are a game ahead of the Philadelphia 76ers (35-17) atop the Eastern Conference.

  • Zidane believes in all of us – Nacho happy to play his part for Madrid Zidane believes in all of us – Nacho happy to play his part for Madrid

    Nacho was delighted to pick up three pivotal points in the LaLiga title race as Real Madrid demonstrated their strength in depth with a 2-1 triumph over rivals Barcelona on Saturday.

    Zinedine Zidane's Madrid moved to the top of the table in Spain – albeit potentially for only 24 hours with Atletico Madrid playing on Sunday – by completing the league double over their Clasico rivals Barca for the first time since the 2006-07 season.

    Reigning LaLiga champions Madrid scored both of their goals in the first half, Karim Benzema getting the first with an audacious back-heeled finish before Toni Kroos doubled the lead, albeit his free-kick took a deflection to beat goalkeeper Marc-Andre ter Stegen.

    While Oscar Mingueza halved the deficit on the hour mark, Madrid's centre-back pairing of Nacho and Eder Militao helped make sure Madrid retained their advantage through to the final whistle.

    "They're three very important points in terms of the title race," Nacho said. "We now have to push on because there's still a long way to go.

    "Winning a Clasico is always special and a nice thing, especially with the way the league table is so tight, with everyone fighting to win the league, it's a very important win."

    Madrid finished the contest, which saw the second half played out amid heavy downpours, with 10 men – midfielder Casemiro dismissed in the 90th minute.

    On the game itself, Nacho said:  "We were very comfortable on the counter-attack. Barcelona like to have a lot of the ball, they can hurt you and you have to defend well and we had to dig in, but we got a two-goal lead which helped us to grow in to it.

    "We had to work hard, but we got the win, which is the most important thing."

    The home team were once again without captain Sergio Ramos – who missed his first LaLiga Clasico game having appeared in 31 consecutive showdowns – due to injury, while fellow centre-back Raphael Varane is still isolating after a positive COVID-19 test result.

    However, having performed admirably in the 3-1 Champions League win over Liverpool in midweek, the combination of Nacho and Militao again impressed at the heart of the Madrid defence.

    Lionel Messi could not help Barcelona rescue a point in an eventful finish; he has now failed to score in seven successive games against Madrid in all competitions for the first time in his career.

    "We have a very strong squad, we're all contributing in big games like today and the other day against Liverpool," Nacho said.

    "The coach believes in all of us and we're at 100 per cent. We still have a lot of really big things left to keep fighting for."

    Barca felt aggrieved they were not awarded a penalty after substitute Martin Braithwaite tangled with Madrid full-back Ferland Mendy. 

    "I was just the wrong side of Mendy and I don't know what to tell you know. When I've seen it, I'll be able to have an opinion on it," Nacho said of the incident.

  • Jamaica international Moore vows to quit social media after racist abuse Jamaica international Moore vows to quit social media after racist abuse

    Jamaica international Liam Moore has vowed to quit social media after being the subject of vile abuse earlier this week. 

    The Reading captain was the target of a poll that posed the racist question “Should a n***** be captain of Reading FC?" The account has since been deleted.

    In response, Moore also laid the blame at the feet of the social media platform.  The issue has once again been the subject of intense scrutiny in recent weeks.

    "2021 and I'm not ****ing surprised in the slightest. Twitter you're as much to blame for making it so easy to abuse people,” he tweeted.

     Earlier this week, Swansea announced that they would not take part in any social media activity for two weeks, following the abuse of another Jamaica international Jamal Lowe.  They were joined in protest by Scottish club Rangers.  Arsenal legend Thierry Henry had also previously announced the decision to delete his social media accounts in a bid to direct attention to the issue.

    While pointing out that he had enjoyed interacting with the fans via social media, Moore denoted the environment to be an increasingly toxic one.

    "I have enjoyed engaging with many of you on here over the years but tonight was just another example of Twitter being toxic,” he added.

    "You have to stand for something and for that reason I am deactivating my account. Thanks for your support."

     

© 2020 SportsMaxTV All Rights Reserved.