Liverpool owners FSG agree million dollar deal to sell one of their squad

Liverpool owners FSG agree million dollar deal to sell one of their squads

Fenway Sports Group will sell its minor league singles A team, the Salem Red Sox

Liverpool owners Fenway Sports Group have reached an agreement to sell one of the sports teams in their portfolio.

The Boston-based ownership group, which includes the Reds, Boston Red Sox baseball team, Pittsburgh Penguins ice hockey franchise and NASCAR team RFK Racing, among others, has reached an agreement to sell the Salem Red Sox, a minor league-girl of his MLB team in Boston, according to the Boston Globe.

The Salem team, a Class A affiliate competing in the Carolina League, is set to be acquired by Diamond Baseball Holdings, which has been under the control of the FSG since 2007. Salem will remain a connected team of the Boston Red Sox despite a new owner

For 16 years, Allen (Lawrence, General Manager of Salem) and the entire Salem team have been incredible partners who have made entering the Red Sox minor league system a welcoming and normative entry point for our culture,” Red Sox president and one of FSG’s oldest associates, Sam Kennedy, said in a press release.

“Our connection with Allen and the entire Salem player development team will remain intact, and I know that with DBH executives like Pat Battle and Peter Freund at the helm, the organization is in safe hands. “What they are doing to improve the minor leagues through investment and technology will greatly benefit Salem and I have no doubt that under Allen’s able leadership they will continue to build on what has been established. in Salem.”

FSG acquired the Salem Red Sox team from Hardball Capital in 2007, with Hardball paying around $8 million for the team when they bought it from businessman Kevin Bowles in 2006. The value of the sale of the team at Diamond Baseball Holdings has not been made public.

The Salem Red Sox’s value was part of the Boston Red Sox’s valuation, which is valued at $5.21bn (£4.29bn) according to the latest findings.

FSG are currently in what they’ve described as “growth mode” as they look to add more sporting assets to their portfolio, with a potential NBA expansion franchise topping the list in seasons. upcoming Draft of this basketball icon and FSG partner LeBron James is likely to take the helm when the 38-year-old ends his illustrious career.