As featured on NewsNow: Football news

Liverpool set to welcome large minority investor

RedBall Acquisition Corp, the recently formed special purpose acquisition company (SPAC) set up by Gerry Cardinale and Billy Beane, is targeting 'a large minority investment' in Liverpool, according to the New York Post, reports, www.sportspromedia.com/.

The US-based newspaper reports that the Premier League champions are a 'primary target' for RedBall, which is armed with US$575 million from its initial public offering (IPO) and counts Richard Scudamore, the former executive chairman of English soccer's top flight, as a board member.

Oakland A's executive Beane is also reportedly a Liverpool fan and has links with the club's owner John Henry, who heads up Fenway Sports Group, which also owns Major League Baseball's (MLB) Boston Red Sox.

The Post report adds that RedBall will have well over US$1 billion at its disposal, which would be enough to take on a sizeable minority stake in Liverpool.

One sports banker told the Post: "Liverpool has been shopping a minority stake. Even before Covid."

Recent on field success has seen Forbes value Liverpool at US$2.18 billion, with the club also announcing pre-tax profits of UK£42 million (US$54.9 million) for the 2018/19 financial year.

Ian Ferris
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Ian Ferris

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