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A Look into the Fenway Sports Group Family

Last Updated: July 1, 2023
With Fenway Sports Group deciding to hold on to a majority stake in Liverpool Football Club, let’s check out FSG’s total business holdings.

After declaring in November iconic English soccer institution Liverpool Football Club completely for sale, parent company Fenway Sports Group changed course Monday when principal owner John Henry said that the club won’t be selling, but will consider taking on investors to join minority stakeholders like LeBron James.

Liverpool is struggling in the English Premier League this season at a shocking eighth as it competes in the final 16 of the UEFA Champions League. It’s one of the crown jewels of FSG’s holdings, which span four sports and two continents. Here’s a breakdown of the Fenway Sports Group family.

Fenway Sports Group Holdings

Boston Red Sox

FSG formed in 2001 when Henry led a purchase of the Sawx for $700 million. Boston’s won an MLB-best four World Series titles since then, and Forbes values the Red Sox at $3.9 billion. Ownership also includes iconic Fenway Park, the nearby 5,000-seat MGM Music Hall, Fenway South — the Red Sox’ spring training home in Fort Myers, FL, including the 11,000 seat JetBlue Park, the Single-A Salem Red Sox, and a 10% stake in the Triple-A Worcester Red Sox.

Liverpool Football Club

Purchased for $344 million in 2010, Liverpool FC is now valued at $4.45 billion according to Forbes, making it the world’s No. 4 most valuable soccer club behind only Real MadridBarcelona, and Manchester United. Liverpool won its first Premier League title in 30 years in 2020, took home the UEFA Champions League title in 2019 for the first time in 14 years, and has won the FA Cup, Carabao Cup, and Club World Cup while making improvements to its legendary Anfield Stadium, and its academy and training grounds.

New England Sports Network

FSG owns a reported 80% stake in regional sports network NESN that primarily broadcasts Red Sox and Boston Bruins games. NESN also has a website, mobile apps, social media platforms, and is reportedly working on sports betting opportunities.

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Pittsburgh Penguins

FSG sold a 10% stake in its overall company to RedBird Capital Partners for $735 million in March 2021, then that November, bought a controlling stake in the NHL’s Pittsburgh Penguins for a reported $900 million. Forbes’ latest hockey valuations in December pegged the Pens at $990 million, a 10% year-over-year increase, good for 15th in the league.

RFK Racing

In 2007, FSG bought a 50% stake in NASCAR‘s famed Roush Racing, which won the 2003 and 2004 NASCAR driver championships with Matt Kenseth and Kurt Busch, respectively. Roush Fenway won second division titles in what’s currently known as the Xfinity Series in 2007, 2011, 2012, and 2015. In 2021, driver Brad Keselowski joined the team as a minority stakeholder as the group rebranded to RFK.

Other holdings

Fenway Sports Management is a marketing firm that serves as the sponsorship sales arm for the Red Sox, Liverpool, RFK Racing, and is LeBron James’ exclusive marketing partner. Fenway Sports Group Real Estate oversees the company’s properties like the area in and around Fenway Park and the Fenway neighborhood of Boston and Fenway South in Florida.

All in all, there’s a reason Fenway Sports Group is valued at nearly $8 billion. It’s an enormous, diversified company that for the time being, will retain a controlling stake in Liverpool.

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About The Author
Shlomo Sprung
Shlomo Sprung
Shlomo Sprung is a Senior Staff Writer at Boardroom. He has more than a decade of experience in journalism, with past work appearing in Forbes, MLB.com, Awful Announcing, and The Sporting News. He graduated from the Columbia University Graduate School of Journalism in 2011, and his Twitter and Spotify addictions are well under control. Just ask him.