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By Kanishka Singh
(Reuters) – Boston Red Sox owner John Henry is in talks with RedBall Acquisition Corp for his well-known sports holding company Fenway Sports Group LLC, told Reuters a user close to the affair On Friday night.
The agreement under discussion would merge Fenway Sports Group with RedBall Acquisition Corp and give Liverpool Football Club owner a price of about $8 billion, adding debt, the source said, requesting to be identified.
Discussions were previously reported through the Wall Street Journal, which said the talks were in their infancy and could yield even more.
The newspaper also said that RedBall, which raised $ 575 million in August to buy corporations in sports media and research and sports-related data, plans to raise another $ 1 billion to buy a stake in Fenway Sports Group that will exceed 25%.
RedBall, a special target acquisition company (SPAC), is co-chaired by former Goldman Sachs banker Gerald Cardinale and baseball executive Billy Beane, who stood out with Michael Lewis’ e-book “Moneyball: The Art of Winning an Unfair Game. “
(Reports via Kanishka Singh and Sabahatjahan Contractor in Bengaluru; editing via Sonya Hepinstall)