April 13, 2024

For the Fenway Sports Group (FSG), 2023 has been an interesting year. The Boston-based company has been growing, as evidenced by this.

 

In terms of Liverpool, the Anfield Road End project is nearing completion after experiencing a delay due to the insolvency of contractors Buckingham Group.

 

The £80 million project will open gradually on December 17 in time for the match against Manchester United.

 

In the meantime, it was announced in July that approximately $1.6 billion would be used to develop the region surrounding the storied Fenway Park, home of the Boston Red Sox, a Major League Baseball team.

 

Additionally, FSG has entered the golf industry. They bought a team in the newly formed Technology Golf League, which is led by Rory McIlroy and Tiger Woods.

 

The first season was supposed to begin in January, but it has been postponed by a full year due to damage to the roof of the Florida tournament venue.

 

In addition to talking about a merger with LIV Golf, John Henry and Co. have also been in talks with Saudi Arabia’s Public Investment Fund about investing in the PGA Tour.

 

Tom Werner has insisted that FSG are not spreading themselves too thin, National Hockey League side the Pittsburgh Penguins also under their control, while they own 50% of NASCAR’s RFK Racing.

FSG chairman Werner said via the Boston Globe: “There are a number of people who have raised their hands to say that they would be interested in helping the new PGA, and it’s really up to the players and the board to decide the direction they want to go in.

 

We’ve said that we think that we can help them, but it’s really up to them to decide the path.

 

“We’ve always thought golf is a growth sport and we feel we have competency in hospitality, in ticketing, creating enthusiasm for the venue that you come to, sponsorship, relations with the fans — these are areas that we have expertise in.

 

“There’s a narrative that we’re taking our eye off the ball. Our focus is obviously on the businesses that we are working in.

 

If this happens, it happens, but it’s not going to divert our attention.”

 

Golf may not be the only sport that FSG expand their empire in the future, though.

 

They have strongly been linked with purchasing a new franchise in the National Basketball League should the league expand as expected down the line.

 

With its increasing sporting influence, Las Vegas has been suggested as a travel destination; it’s been dubbed the newest sports Mecca. It hosted its first Formula One race recently; the Raiders, an NFL team, relocated from Oakland to Sin City in 2020; the Vegas Golden Knights, an NFL team, were founded in 2017 and won the Stanley Cup the previous season; and the Las Vegas Aces, a WNBA team, moved from San Antonio to Nevada in 2018.

 

When he eventually retires, basketball legend LeBron James, who owns a stake in FSG and became a lifetime partner earlier this year, has stated that he would like to lead a team in Vegas.

 

And the Boston Globe recently reported that Henry and Co are ‘expected to be part of the ownership group for an NBA expansion franchise in Las Vegas in the coming years’.

 

A new NBA franchise would likely cost several billions of dollars, which would be distributed to the existing teams.

 

In February, the Phoenix Suns were sold for $4 billion, which could be a potential barometer of how much FSG and any other partners involved may have to pay. Seattle has also been mooted as another destination.

 

 

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