Liverpool owners FSG make decision on billion dollar investment

Liverpool's owners, Fenway Sports Group (FSG), that they are contemplating a bid for the NBA team, the Boston Celtics. Despite

The Boston-based consortium, led by John W. Henry, acquired a majority stake in in 2010 and also owns the MLB's Boston Red Sox and NHL's Pittsburgh Penguins. They were also part of a group that invested earlier this year.

FSG has brought success back to Anfield through astute transfer dealings and the appointment of Jurgen Klopp as manager, who guided the Reds to and Champions League glory. Any potential ownership group looking to venture into the NBA would need deep pockets, with the cost of an expansion team or buying a team like the Celtics likely exceeding $5.2 billion.

Over the summer, it seemed FSG might make a move into professional basketball when the Celtics, fresh from their Larry O'Brien trophy win, were put up for sale by their majority ownership group, led by Wyc Grousbeck. With an estimated value of $6 billion and located in FSG's New England heartland, the New York Post reported that the firm was 'considering' a bid for the 18-time champions.

Amid swirling rumors, FSG CEO Sam Kennedy has poured cold water on speculation linking them with a potential NBA acquisition. Speaking to MassLive, Kennedy was quick to congratulate the Celtics for their achievements but firmly stated: "I don't see it to be appropriate to talk about the Celtics today other than to say congrats on another world championship. But that's not on our radar right now."

That being said, it's no secret that FSG has shown past interest in an NBA franchise. As the league contemplates bumping up from 30 to 32 teams, RedBird Capital’s Gerry Cardinale – owning an 11% cut of FSG – hinted at Las Vegas as a ripe spot for the group's basketball venture. With existing ties to the Lakers and basketball legend LeBron James, who joined FSG as a partner back in 2021, the Celtics' arch-rivals are also in the mix.

Openly discussing the potential move in 2023, Cardinale revealed: "We're looking at bringing an NBA expansion team here in partnership with LeBron and Fenway Sports Group.

"We started this project three years ago. The price talk on an NBA team three years ago was US$3 billion. The price talk today on an NBA expansion team is $5.5 billion to $6 billion.

"I'm not sure I can make that work. Maybe we're hitting that inflection point, and it may mean that, if we want to see a continued linear progression in these valuations, maybe it's a different type of capital [that we need].

"Maybe I've evolved out of existence, and maybe now I'm handing the baton over to a sovereign [wealth fund] or to a lower cost-of-capital provider. It could be we've reached that point."