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- RedBall looking to acquire 25% stake in FSG; aims to raise further US$1bn to complete transaction
- Deal could see public company acquire other soccer teams across Europe
John Henry, the owner of English soccer champions Liverpool and Major League Baseball’s (MLB) Boston Red Sox, is in talks to take his Fenway Sports Group (FSG) public in a merger with RedBall Acquisition Corp, according to multiple reports.
The proposed deal would value the holding company at US$8 billion, according to the Financial Times, which added that RedBall plans to acquire a 25 per cent stake in the company.
RedBall is a special purpose acquisition company (SPAC) headed up by Gerry Cardinale, the founder and managing partner of private equity firm RedBird Capital, and Oakland A’s executive Billy Beane.
In August, RedBall raised US$575 million in its initial public offering (IPO) to spend on acquiring a professional sports franchise.
Under the deal with FSG, the FT said RedBall will raise a further US$1 billion to complete the transaction, which could then lead to the publicly listed company acquiring other soccer teams across Europe.
The Wall Street Journal, which first reported the talks, added that discussions are at an early stage and could still collapse.
RedBall, which counts former Premier League executive chairman Richard Scudamore as a board member, was first linked with making an investment in Liverpool at the end of August.
Cardinale’s RedBird has been particularly active this year, completing a takeover of French soccer club Toulouse in July before joining forces with Dwayne Johnson and Dany Garcia in August to buy the XFL spring football league.
John Henry, the owner of English soccer champions Liverpool and Major League Baseball’s (MLB) Boston Red Sox, is in talks to take his Fenway Sports Group (FSG) public in a merger with RedBall Acquisition Corp, according to multiple reports.
The proposed deal would value the holding company at US$8 billion, according to the Financial Times, which added that RedBall plans to acquire a 25 per cent stake in the company.
RedBall is a special purpose acquisition company (SPAC) headed up by Gerry Cardinale, the founder and managing partner of private equity firm RedBird Capital, and Oakland A’s executive Billy Beane.
In August, RedBall raised US$575 million in its initial public offering (IPO) to spend on acquiring a professional sports franchise.
Under the deal with FSG, the FT said RedBall will raise a further US$1 billion to complete the transaction, which could then lead to the publicly listed company acquiring other soccer teams across Europe.
The Wall Street Journal, which first reported the talks, added that discussions are at an early stage and could still collapse.
RedBall, which counts former Premier League executive chairman Richard Scudamore as a board member, was first linked with making an investment in Liverpool at the end of August.
Cardinale’s RedBird has been particularly active this year, completing a takeover of French soccer club Toulouse in July before joining forces with Dwayne Johnson and Dany Garcia in August to buy the XFL spring football league.
