Liverpool’s owners have received a fresh cash injection of over half a billion.
Fenway Sports Group confirmed on Wednesday that they had accepted a stakeholding offer from RedBird Capital Partners for $735 million (£533m).
The private investment firm was founded by former Goldman Sachs partner Gerry Cardinale and had held negotiations with FSG over several months.
LeBron James, a Reds’ minority shareholder, is also involved in the company alongside Maverick Carter and their long-time business partner Paul Wachter.
RedBird’s investment is based on their valuation of the Boston-based business empire, which includes Liverpool and the Red Sox baseball team, at £5.33bn.
The deal allows FSG to provided continuity to the Premier League champions at a time when they have lost £120m in revenue since last year’s pandemic.
A portion of the new investment will boost Liverpool’s plans to redevelop the Anfield Road stand with construction estimated to cost in the region of £60m.
“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,” read an FSG statement.
“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.”