Liverpool news Man City new signing shows Liverpool and FSG transfer future MetiNews.Com
MetiNews.Com - City Football Group have added another football club to their growing portfolio of clubs
Breaking News ! Should Fenway Sports Group and RedBall Acquisition Corp get the green light from Major League Baseball later this year on their proposed reverse merger then one of the things at the top of their 'to do' list will be setting about creating a football club portfolio. Liverpool owners FSG and special purpose acquisition company (SPAC) RedBall have been in talks for a number of months over the latter purchasing around 20 per cent of FSG business in a potential £6bn deal that could see the company publicly listed on the stock market. RedBall is the brainchild of billionaire American financier Gerry Cardinale, a man with a keen interest in sports analytics, and Billy Beane, a man who pioneered the use of statistical analysis and sabermetrics in baseball with the Oakland Athletics. FSG owner John W. Henry has longed to work with Beane, vice president of baseball operations at Oakland, for many years and made an offer for him to come in as general manager of the FSG-owned Boston Red Sox back in 2002, which Beane declined. Beane's interest in European football has led him to take minority shareholdings in both Barnsley and AZ Alkmaar, while Cardinale purchased French second division side Toulouse last summer, installing former Liverpool director of football Damien Comolli as chairman shortly after. The deal has been held up in the US due to the the green light having to be given by the MLB to allow such a merger, with Beane expected to remain with the A's through the 2021 season that concludes in the latter part of the year. The ECHO understands that representatives of both sides have been in dialogue over the Christmas and New Year period and that talks continue, with some hope that a positive conclusion can be reached in due course. For Beane, should the deal go ahead, it would see him likely step away from baseball and take ownership of FSG's plan to expand their football portfolio in a similar way to that of Manchester City owners City Football Group and RB Leipzig owners Red Bull. FSG and RedBall's potential deal Trump loss could speed up merger Cardinale offers insight Reds could follow Man City and Leipzig How it might affect transfer spend There are a number of benefits to such link ups, including the ability to give talented players a better grounding in European football and use other clubs under the same umbrella as a vehicle of driving profit and increasing the value of players. There are also marketable opportunities that such tie ins in different territories bring. This week, City Football Group (CFG) added another club to their portfolio, signing Bolivia's largest club, Club Bolivar, as their first 'partner club', where the South American side will be able to tap into the knowledge of Man City and utilise CFG's football data and insights platform. From a business angle the deal will increase CFG, and Man City's footprint in South America with CFG committing to help Club Bolivar 'grow its partnership revenue, build world-class facilities, promote league-wide improvements, and support the development of its key executives'. Take our 30-second Liverpool transfer survey and let us know what Jurgen Klopp needs to do in the January window. Ferran Soriano, CEO of CFG said: “We are very pleased to grow our global presence through this important collaboration with Club Bolivar, City Football Group’s first Partner Club. "This long-term agreement is the first of its kind and will enable Club Bolivar to draw down on and utilise the wide range of football industry expertise developed by City Football Group.
. Our work in Bolivia will certainly strengthen our knowledge of, and network in, South American football.” CFG already own a number of clubs across the globe, including New York City FC, Melbourne City, Girona, Yokohama F. Marinos, Mumbai City, Lommel SK, Troyes and Montevideo City Torque.
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The model has proved enormously attractive to large, blue chip companies, with the global appeal of the brand through its ownership of clubs across the world and access to markets in a number of continents proving lucrative. Models such as CFG's and Red Bull have great appeal to investors and the trend for SPACS - companies set up with no existing operations with the goal of purchasing a specific asset - look set to continue well into 2021 given the financial situation facing the football industry as a whole. The potential partners are already there for Liverpool and an FSG/RedBall merger, with the Toulouse linked to come under such an umbrella should the deal progress. Other investors and other SPACS are expected to be searching the market for opportunities in the next 12 months. For FSG and RedBall the clock is ticking given that RedBall, who started trading shares in August, had 24 months from that point in order to invest. Should that deadline pass then money would be returned to investors. One investor who has bought into the RedBall idea is Izzy Englander, founder of New York-based hedge fund Millennium Management LLC. Englander, 73, has a net worth of some £5.3bn and has taken a 7.8 per cent stake in Cardinale and Beane's SPAC.
Source = MetiNews.Com