Fenway Sports Group is entering a new era with help from its newest partners.
FSG announced Wednesday in a press release RedBird Capital Partners has invested in the Boston-based global sports, entertainment and real estate platform, and LeBron James, Maverick Carter and their longtime business partner Paul Wachter has joined its ownership group. FSG principal owner John W. Henry, chairman Tom Werner and president Mike Gordon believe the new investors and owners will help FSG develop and launch new businesses and opportunities that will enhance or extend FSG’s existing platform.
“Over the years, Fenway Sports Group has been able to attract a dedicated group of executives and partnerships seeking to compete for titles in the most challenging and rewarding landscapes,” the FSG leadership group said in a statement. “Our strategic partnership with Gerry (Cardinale) 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.
“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.”
The arrivals of RedBird Capital, James, Carter and Wachter as minority owners is expected to enhance FSG’s primary pursuits.
“To our fans and supporters: Winning continues to be the driving force for all of us,” Henry, Werner and Gordon continued. “The growth of FSG as an organization 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.”
The investment and accompanying transactions value FSG at $7.35 billion.