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John W.Henry's FSG are looking for more investment(Image: Michael Regan/Getty Images/Getty Images For The Premier League)

Liverpool owners Fenway Sports Group are on the lookout for minority investment into another one of their sports teams.

FSG, who have committed to a large spend at the Reds this summer with the acquisitions of Jeremie Frimpong, Florian Wirtz, and potentially Milos Kerkez and others, have a large sporting portfolio across a number of sports.

Liverpool has, in recent years, become the most valuable sporting asset in that portfolio, with Forbes magazine pegging the value of the Reds at around £4 billion, considerably more than the £3bn valuation that the same publication placed upon the Boston Red Sox, the storied Major League Baseball franchise that FSG have owned since 2002.

Having purchased Liverpool in 2010, FSG have seen an enormous return on their initial £300 million investment, seeing its value rocket over the last 15 years.

The financial success has mirrored the on-pitch success, with two Premier League titles and a Champions League crown delivered in that time.

FSG, which has a number of other properties under its ownership including real estate, talent management and the commercial arm of golf’s PGA Tour, also has other sporting assets including the NASCAR team RFK Racing, and the NHL ice hockey franchise they acquired in 2022, the Pittsburgh Penguins.

FSG paid around £660m for the Penguins, with the team currently valued at around £1.3bn, with the Reds owners having seen their initial investment almost double.

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Last week, reports in local Pittsburgh media claimed that the former owners of the team, Ron Burkle and Mario Lemieux, were ready to buy back the team from FSG, something that would have been something of a departure from the FSG investment thesis, which is to hold long-term sporting investments, own well and see value increase over time while adding businesses that can exist around the intellectual property of the asset.

FSG chief John Henry had previously stated in an interview with the Boston Sports Journal back in 2023 that selling assets was not a hallmark of the Fenway Sports Group way, saying: “Have we sold anything in the past 20-plus years?”

FSG had been linked with a full sale of Liverpool back in 2023, but that turned into a pursuit of the sale of a minority stake, as explained to the ECHO in an exclusive interview, with New York-based investment firm Dynasty Equity taking a single-digit stake in the club in September 2023.

What panned out with Liverpool is now being mirrored in Pittsburgh, with FSG not currently looking at selling the Penguins, instead looking at the sale of a minority stake to a new partner.

An FSG spokesperson told the ECHO: “Fenway Sports Group is currently engaged in a process to explore a potential minority investment in the Pittsburgh Penguins.

They are a platform company, one that builds portfolios and adds businesses that can add value to a number of those assets.

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That continues to be the play, and the lack of appetite to sell the Penguins should point to the way that they view the rest of their portfolio.

They remain in it for the long haul.

The current success at Liverpool, investment in both infrastructure and the first team, as shown by the British transfer record-breaking pursuit of Wirtz, are clear indicators of a long-term commitment to Liverpool, something that FSG sources have reaffirmed to the ECHO in recent weeks.

Liverpool has never been more valuable, nor primed to bring about long-term future success, and that is something that will continue to be guided in the coming years by FSG.