Liverpool owner FSG announces minority investment by New York equity firm
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This article was published 28/09/2023 (1103 days ago), so information in it may no longer be current.
LIVERPOOL, England (AP) — New York-based investment firm Dynasty Equity has bought a minority stake in Liverpool, the Premier League club said Thursday.
Fenway Sports Group (FSG), which owns the six-time European Cup champions, said last year that it was open to selling shares, leading to speculation about a potential buyout.
Liverpool did not disclose financial details of the deal, or how big of a share Dynasty was acquiring, but British media reported that the firm was injecting at least $100 million into the club.
“Our long-term commitment to Liverpool remains as strong as ever,” FSG president Mike Gordon said 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.”
Liverpool said the the investment would “primarily” be used to pay down bank debt, which was incurred during the COVID-19 pandemic, as well as capital expenses on the stadium, training ground and transfers made during the offseason.
Dynasty describes itself as “a global sports investment firm focused on acquiring minority interests in sports franchises and other related assets and rights.”
“Liverpool is one of the most iconic football clubs in the world with a passionate fanbase and significant global reach,” Dynasty chief executive K. Don Cornwell said. “Dynasty is privileged to support the club and work alongside FSG to execute on the tremendous growth opportunities ahead.”
Manchester United’s owners, the Glazer family, put the club up for sale last November, but no takeover has been completed despite bids from Qatari banker Sheikh Jassim bin Hamad Al Thani and British billionaire Jim Ratcliffe.
This month, Miami-based private investment firm 777 Partners reached a deal to buy out Everton’s majority shareholder Farhad Moshiri.
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AP soccer: https://apnews.com/hub/soccer
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