Fenway Sports Group have not been secretive about their desire to acquire an NBA team to add to their sporting portfolio.
Liverpool chairman Tom Werner, FSG partner and Boston Red Sox president Sam Kennedy, as well as Gerry Cardinale, the founder and managing partner of 11 per cent FSG stakeholders RedBird Capital Partners have all spoken on the potential of an NBA franchise being on the agenda for the Reds owners, who have Liverpool, the Red Sox baseball team, the Pittsburgh Penguins NHL ice hockey team and the NASCAR outfit RFK Racing among their stable of teams owned.
The NBA seems a good fit for FSG, who were linked with interest in the Minnesota Timberwolves earlier this year. It is a profitable league with global appeal where the valuations of teams, in line with other major leagues, continue to rise. They have strong media deals in place and for FSG to be a part of that would give them new opportunities and allow them to further grow their rapidly accelerating business.
