Red Sox owner to take Fenway Sports public through merger with RedBall: source
From Kanishka Singh
(Reuters) - Boston Red Sox owner John Henry is in talks with RedBall Acquisition Corp. to bring its famous sports holding Fenway Sports Group LLC to the public, a person familiar with the matter told Reuters late Friday With.
The discussed deal would merge Fenway Sports Group with RedBall Acquisition Corp and value the owner of Liverpool Football Club at around $ 8 billion including debt, the source said, asking not to be identified.
The talks were previously reported by the Wall Street Journal, which said the discussions were at an early stage and could still fall apart.
The newspaper also said that RedBall, which raised $ 575 million in August for the purchase of sports and sports-related media businesses and data analytics, plans to use an additional $ 1 billion to buy a stake in Fenway Sports Group to raise, which will not exceed 25%.
RedBall, a Special Purpose Acquisition Company (SPAC), is run by former Goldman Sachs banker Gerald Cardinale and baseball manager Billy Beane, famous for Michael Lewis' book Moneyball: The Art of Winning an Unfair Game .
(Reporting by Kanishka Singh and Sabahatjahan Contractor in Bengaluru; editing by Sonya Hepinstall)
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