AC Milan chief confirms Liverpool owners FSG in talks for 'last three years' over potential $4bn deal

A partner of Fenway Sports Group (FSG) has confirmed that Liverpool's owners have been exploring purchasing a new franchise in the National Basketball League (NBA).

FSG already boast an impressive portfolio. They have owned the Reds since 2010, while iconic Major League Baseball team the Boston Red Sox are under their control along with National Hockey League outfit the Pittsburgh Penguins. Meanwhile, FSG purchased a team in the newly-formed Technology Golf League spearheaded by Tiger Woods and Rory McIlroy and hold a 50% stake in NASCAR's RTK Racing.

FSG are in 'growth mode' and it's long been talked about how they could become involved in a new NBA team in Vegas. Basketball icon LeBron James owns a stake in FSG, having become a lifetime partner earlier this year and has confirmed he wants to bring a team to Nevada when he retires from his playing career.

The NBA is currently holding their inaugural In-Season Tournament in Vegas - with James in barnstorming form to help the LA Lakers earn a 133-89 win over the New Orleans Pelicans to book their place in the final against the Indiana Pacers. NBA commission Adam Silver has previously admitted that new franchises could take the league from 30 to 32 teams.

Vegas has become the newest sports Mecca, with Formula One hosting their first race in Sin City this year. Meanwhile, National Football League team the Raiders moved from Oakland to Vegas in 2020 and the NHL side the Vegas Golden Knights were formed in 2017 - winning the Stanley Cup last season.

The NBA is expected to be next - and FSG have their eyes on the prize. RedBird Capital Partners purchased an 11% stake for around £533 million in April 2021. Gerry Cardinale, the founder and managing partner - whose company own AC Milan and Toulouse - revealed FSG have been looking at a potential project for three years.

Speaking at the Sports Business Journal Intercollegiate Athletics Forum (via Front Office Sports), Cardinale said: "We’re looking at bringing an NBA expansion team [to Vegas] in partnership with LeBron and Fenway Sports Group. We started this project three years ago.”

Any new NBA franchise would likely cost multi-billion dollars, which would be shared equally around existing teams. In December 2022, the Phoenix Suns were sold for $4 billion, which is a potential barometer. Meanwhile, Marc Cuban is in talks to sell a majority stake in the Dallas Mavericks for $3.5 billion. Forbes valued the Mavericks at $4.5 billion earlier this year.