Boston Red Sox and Pittsburgh Penguins owner Fenway Sports Group LLC has sold a minority stake in Premier League club Liverpool to New York-based sports investment firm Dynasty Equity.
In a statement, FSG and Dynasty Equity said the investment will primarily be used to pay down bank debt incurred during the pandemic and capital expenses made to enhance Liverpool’s Anfield Stadium, construction of the club’s AXA Training Center, the repurchase of Liverpool’s former training ground Melwood and player acquisitions during the summer transfer window. Financial terms of the deal have not been disclosed, although the Liverpool Echo reports that it is understood to be between $100 million and $200 million. Morgan Stanley MS and Goldman Sachs Group Inc. GS served as financial advisors to FSG on the transaction. “Our long-term commitment to Liverpool remains as strong as ever,” said FSG President Mike Gordon, in a statement. “We have always said that if there is an investment partner that is right for Liverpool then we would pursue the opportunity to help ensure the club’s long-term financial resiliency and future growth.”
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SOURCE: MarketWatch.com – MarketPulse