The deal being discussed would merge Fenway Sports Group with RedBall Acquisition Corp and will value the owner of the Liverpool Football Club at around $8 billion including debt, the source said, asking not to be identified.
The talks were reported earlier by the Wall Street Journal newspaper, which said the discussions are in the early stage and could still fall apart. The newspaper also said RedBall, which raised $575 million in August to buy businesses in sports and sports-related media and data analytics, plans to raise an additional $1 billion to buy a stake in Fenway Sports Group that will not exceed 25%.
RedBall, a special purpose acquisition company , is co-chaired by former Goldman Sachs banker Gerald Cardinale and baseball executive Billy Beane, who shot to fame with Michael Lewis’s book “Moneyball: The Art of Winning an Unfair Game.”Our Standards:
So much taxpayer money is used for professional sports, most stadiums are built with public money, plus so many tax breaks. I don't think they should go public without giving the state shares
Not gonna lie, I thought that was a picture of StephenAtHome
Because they obviously don't have enough voices in the decision tree.
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Source: Reuters - 🏆 2. / 97 Read more »