Fenway Sports Group (FSG), the American company running the Liverpool football club, confirmed on Wednesday, March 31, that the group has accepted the investment of RedBird Capital Partners in Liverpool.
In a statement issued on Wednesday, FSG did not disclose the amount RedBird Capital Partners invested in Liverpool but the group described the investment as a “significant investment”.
It is believed that the investment would help the Premier League club to stabilize financially. Recall that all major clubs in Europe had suffered financial loss due to the coronavirus pandemic which forced most major leagues to play football games behind closed doors.
In the case of Liverpool, the Premier League club is said to have recorded a whopping £120million loss in revenue during the height of the coronavirus pandemic.
It is also believed that the new investment would help Liverpool to continue with their plan to redevelop the Anfield Road Stand. The investment might also be deployed to acquire new players in the forthcoming summer transfer window.
As it stands, LeBron James and his company – RedBird Capital Partners now have a 10 percent minority stake in Liverpool football club which means that LeBron James through his company has a say in the running of the Premier League club.
The 36-year-old American basketball player has been doing business with Liverpool since 2011. Since the NBA star became a part of Liverpool, the club has won one UEFA Champions League, one FIFA Club World Cup, one UEFA Super Cup, and one Premier League title.
An FSG statement which confirmed the partnership between Liverpool and LeBron James’ RedBird Capital Partners read: “Our strategic partnership with Gerry [Cardinale – founder and managing partner of RedBird], and the entire team 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 long-time 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 organization 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.”