Chief executive Sam Kennedy has reaffirmed that Fenway Sports Group are not in the running for a new team that is on the market.
FSG boast an impressive portfolio and own three iconic outfits. The Boston Red Sox have been under their tenure since 2002, with the MLB team winning three World Series titles. Liverpool came under FSG’s umbrella in 2010 after a £300 million purchase – with the Reds winning eight major trophies and returning to the summit of European football. Then in December 2020, NHL outfit the Pittsburgh Penguins were purchased for a reported $900 million.
But it has long been suggested that FSG have their eye on an NBA team. Basketball legend and LA Lakers star LeBron James is a lifetime partner of the Boston-based firm and has expressed his desire to own a franchise when he retires. Las Vegas has been suggested should the NBA expand from 30 to 32 teams.
However, when the Boston Celtics came on the market earlier this year, FSG were named as a potential suitor. The Celtics, who won a record 18th NBA Championship in June, are very much in FSG heartland. Meanwhile, Celtics majority owner Wyc Grousbeck was part of a consortium led by John Henry and Co. named the Strategic Sports Group that will inject up to $3 billion in the PGA Tour.
The New York Post reported reported that FGS were ‘seriously considering’ a bid for the Celtics. It has been estimated that the Massachusetts outfit is worth in excess of $6 billion – which would be a record bid for a sports team. NHL side the Washington Commanders sold for $6 billion in August 2023.
However, Kennedy has again denied that FSG are in the reckoning to complete a Celtics takeover. Speaking to the Boston Globe, he said: “We are entirely focused on our existing portfolio — we have our hands full.”
FSG also own a 50 per cent share in NASCAR’s RFK Racing and also bought a new franchise – named Boston Common – in the newly-formed Technology Golf League that will launch next year.
