Digital Sports Desk

Online Destination for the Best in Boston Sports

Fenway Sports Group

Rory, Keegan Join Boston Common Golf

by

FENWAY – (Staff Report from Official News Release) – Boston Common Golf, the new tech-forward golf team representing Boston and New England, named four world-class PGA TOUR golfers to its new team, including Rory McIlroy, Keegan Bradley, Adam Scott, and Tyrrell Hatton.

“These four remarkable golfers have achieved an extraordinary list of accolades as individuals, and together as a group, they convey an unmistakable sense of exceptionalism that not only commands respect but also instills a profound sense of awe, especially among their competitors,” said Fenway Sports Group principal team owner John Henry.

“Rory, Tyrrell, Keegan, and Adam stand at the very heart of our team’s potential for success in this groundbreaking venture and we extend our gratitude to each of them for embarking on this journey with us.

“As a co-founder of this visionary league, I want to express my sincere appreciation to Rory and for the partnership we have with Sean O’Flaherty of Symphony Ventures who has been indispensable in helping us build Boston Common Golf. The Symphony team have placed their trust in Fenway Sports Group, and it is an honor and a privilege to share this path with them.”

McIlroy currently ranks as World No. 2 and has spent more than 100 weeks as World No. 1 during his career. Along with Tiger Woods and Jack Nicklaus, he is one of only three players to win four majors by the age of 25. McIlroy turned professional in 2007 and has since recorded 24 PGA Tour victories, nine international victories, and three FedEx Cup championships. His most recent victory came at the 2023 Genesis Scottish Open in June. McIlroy grew up in Holywood, Northern Ireland, and in 2022 became the first player from outside the United States to serve on the PGA TOUR Policy Board. He is a co-founder of TMRW Sports, the parent company of TGL.

“I’m thrilled to join Boston Common Golf and to be representing Boston and New England’s rich sports culture,” said McIlroy. “TGL brings a unique dimension to the game, and I can’t wait to stand with Adam, Keegan, and Tyrrell as my teammates. It’s a fantastic opportunity that will offer us all a chance to build lasting connections and to foster regional pride that you don’t often see in the game of golf.”

Bradley currently ranks as World No. 17 and has ranked as high as World No. 10. Bradley has recorded six PGA TOUR wins, including the 2011 PGA championship, and has made two Ryder Cup appearances for the U.S. team (2012, 2014). His most recent victory came at the 2023 Travelers Championship in June. Originally from Woodstock, Vermont, Bradley currently splits his time between Jupiter, Florida and Newburyport, MA.

“I’m incredibly proud to be a part of Boston Common Golf, especially as a kid from New England,” said Bradley. “This region has a rich golfing history, and to have the opportunity to represent it is a dream come true. I come from a family deeply connected to the sport, and to represent that heritage while also contributing to a team backed by Fenway Sports Group is a unique honor.”

Scott currently ranks as World No. 45 and has ranked as high as World No. 1, most recently in 2014. Since turning professional in 2000, Adam has recorded 14 PGA Tour victories and 14 international victories. His most recent victory came at the 2020 Genesis Invitational. Scott has been selected for the Presidents Cup 10 times (first being selected in 2003 and most recently selected in 2022) and the World Cup four times (2001, ’02, ’13, ’16). Born in Adelaide, Australia, Scott currently resides in Crans-Montana, Switzerland. He became the first Australian to win the Masters when he beat Angel Cabrera in a playoff at the 2013 tournament at Augusta National.

“My first win on the PGA TOUR was in 2003 at the Deutsche Bank Championship in Massachusetts which makes being part of the New England team especially meaningful,” said Scott. “Australia may be a world away from New England, but the golfing spirit is universal. Joining Boston Common Golf feels like a unique opportunity to be part of a team deeply connected to the heart of the game and to represent a region with such a rich golfing tradition.”

Hatton currently ranks as World No. 12 and has ranked as high as World No. 5, most recently in 2021. He has one PGA Tour victory (2020 Arnold Palmer Invitational) and six international victories. His most recent success came at the 2021 Abu Dhabi HSBC Championship. Since turning professional in 2011, Hatton has been selected for three Ryder Cup teams (2018, ’20, ’23), the World Cup (2018), and the Eurasia Cup (2018). Hatton grew up in High Wycombe, Buckinghamshire, England and now splits his time between Marlow, England and Orlando, Florida.

“Being a part of the Fenway Sports Group family through Boston Common Golf is truly surreal,” said Hatton. “As a lifelong Liverpool F.C. fan, it’s a dream come true to be part of the same ownership group. This is an incredible opportunity to represent the spirit of excellence and winning that Fenway Sports Group embodies, and to play with some of the golfers I have admired throughout my career.”

TGL (presented by SoFi) is a new golf league offering a fresh approach to the sport with a focus on technology, innovation, and fan engagement. The new league will feature the world’s top players in a two-hour, team golf competition that merges physical and virtual golf airing in primetime and beginning January 9, 2024 on ESPN. The Boston Common Golf team will play in five regular season matches against the other TGL teams, followed by a four-team postseason, with a semi-final and finals series. SoFi Center, a custom-built venue in Palm Beach, Florida, will combine a data-rich virtual course with a state-of-the-art short game complex creating a unique experience for fans in the stands as well as those watching around the world.

FSG: Calls on Swinehart

by

BOSTON – (Staff Reports from Official News Release) – Fenway Sports Group named Julie Swinehart as the company’s Chief Financial Officer. In her role, Ms. Swinehart will oversee finance and accounting practices across FSG’s portfolio, serve as an advisor on all strategic investment initiatives, and have lead responsibility for financial reporting to FSG’s ownership group, investors, and banking partners.

“Over the years, we have assembled a group of impressive executives who have helped build the company into the global platform it is today,” said FSG principal owner John Henry. “With a background of public company experience as a CFO Julie brings a wealth of talent and strategic experience. We look forward to her leading our financial group for the next chapter of FSG’s evolution.”

“I’m thrilled to be joining this proven, high-caliber organization and group of talented professionals,” said Julie Swinehart. “Drawing on my past professional experiences with public companies, I’m excited to further elevate the FSG platform and position the company for continued growth.”

Ms. Swinehart is a seasoned finance and accounting professional who joins FSG at an important phase in the company’s growth, bringing more than 15 years of public REIT experience and eight years of accounting experience. She previously worked for Retail Properties of America, Inc. (RPAI) where she most recently held the position of Executive Vice President, CFO and Treasurer before the publicly-traded company was merged with Kite Realty Group Trust (NYSE: KRG). During her time at RPAI, Swinehart helped take the company through its IPO in 2012 shortly after being appointed Vice President of Financial Reporting. She was later promoted to Corporate Controller, to Chief Accounting Officer and in 2018, named CFO.

Ms. Swinehart holds a Bachelor of Science degree from the University of Illinois and is an active member of the American Institute of CPA’s and the Illinois CPA Society. Her current community involvement includes serving as Treasurer and Trustee at the Avery Coonley School in Downers Grove, Illinois, and as Finance Committee Chair and board member of Lyons Township High School in La Grange, Illinois.

It’s Official: Welcome the FSG Penguins

by

BOSTON/PITTSBURGH – (Staff Report from Official News Release) – The Pittsburgh Penguins and Fenway Sports Group entered into an agreement for FSG to acquire controlling interest in the Pittsburgh Penguins hockey team. The deal, which is subject to approval by the National Hockey League Board of Governors, is expected to close before the end of the year.

Embed from Getty Images

As part of the transaction, Mario Lemieux and Ron Burkle will remain part of the ownership group and will be closely aligned with FSG. Lemieux, a member of the Hockey Hall of Fame, will continue his role guiding hockey operations for the organization. In addition, continuity of leadership will be maintained among the club’s senior management team of CEO David Morehouse, COO Kevin Acklin, President of Hockey Operations Brian Burke, General Manager Ron Hextall, and Head Coach Mike Sullivan.

FSG Chairman Tom Werner said in a statement, “The Pittsburgh Penguins are a premier National Hockey League franchise with a very strong organization, a terrific history and a vibrant, passionate fan base. We will work diligently to continue building on the remarkable Penguins’ tradition of championships and exciting play.”

Lemieux and Burkle, who purchased the team in 1999, enjoyed a 22-year partnership that delivered three Stanley Cups and the construction of PPG Paints Arena, a multi-purpose venue which opened in August 2010 and is considered one of the top facilities in North America. Under their leadership, the Penguins have consistently led the NHL in local TV ratings, social media, sponsorships, and community and youth hockey investments, while selling out more than 600 straight games.

“As the Penguins enter a new chapter, I will continue to be as active and engaged with the team as I always have been and look forward to continuing to build on our success with our incoming partners at FSG,” Lemieux said. “They have an organizational philosophy that mirrors the approach that worked so well for Ron and me over the past 22 years.”

“Fenway Sports Group brings everything we could ask for in an ownership partner to help continue the historic success of the Pittsburgh Penguins,” said Morehouse. “They understand what the Penguins mean to Pittsburgh, and they bring to us the latest in cutting-edge sports research, data analytics, player training and performance, real estate development, and organizational excellence..”

 

FSG Makes Formal Announcement on James, RedBird Partners Investment

by

BOSTON – Fenway Sports Group (FSG), a global sports, marketing, media, entertainment, and real estate platform, announced a significant investment into the company by RedBird Capital Partners (RedBird). The deal is part of an ongoing strategic alliance between the two companies that will focus on the active pursuit of growth opportunities for FSG.

Embed from Getty Images

In addition to the organic growth anticipated for FSG’s current portfolio, the partnership with RedBird will enhance the company’s ability to develop and launch new businesses modeled after successful growth companies built by Gerry Cardinale and RedBird. FSG and RedBird will also develop opportunities for strategic acquisitions in sports, including teams and venues, media and related businesses that enhance or extend FSG’s existing platform.

The investment by RedBird into FSG is based on an enterprise valuation for FSG of $7.35 billion. As part of the overall transaction, LeBron James, Maverick Carter and their longtime business partner Paul Wachter will exchange a previously held interest in Liverpool Football Club and become part of FSG’s ownership group along with RedBird.

FSG leadership, comprised of Principal Owner John W. Henry, Chairman Tom Werner and President Mike Gordon said, “Over the years, Fenway Sports Group has been able to attract a dedicated group of executives and partnerships seeking to compete for titles in the most challenging and rewarding landscapes. Our strategic partnership with Gerry and the entire team at RedBird will enhance our ability to pursue future growth opportunities in a more accelerated way but with the same selectiveness that has served us so well.

“We are also pleased to welcome to our ownership group LeBron, Maverick and Paul, with whom we have enjoyed a successful collaboration for well over a decade. Their addition is an important milestone for FSG and expands and deepens a longtime friendship and relationship that began in 2010.

“To our fans and supporters: Winning continues to be the driving force for all of us. The growth of FSG as an organization allows us to further strengthen our resources and commitment to the communities we serve, and we look forward to having these talented new partners join us in the next chapter of FSG’s evolution.”

Gerry Cardinale, Founder and Managing Partner of RedBird, said, “Fenway Sports Group is unique not only for the quality of its sports properties and assets, but for the highly disciplined, results-oriented organization that John, Tom, Mike and the FSG team have built over the past 20 years. RedBird shares the same passion for performance-driven investing, business operations, fan experience and service to the community. We look forward to contributing our experience growing premier sports properties and working alongside this tremendous leadership team, including our fellow new owners LeBron, Maverick and Paul.”

“Working with Fenway Sports Group for the past decade has taught LeBron and me so much about the business on a global scale, and we’ve always believed it would lead to something bigger,” said Maverick Carter. “We are proud to be part of this iconic ownership group and are excited about the opportunities that come with that to continue creating change and empowering people of every race, gender and background to be part of the process.”

The transactions were unanimously voted on by FSG partners on Tuesday, March 16, 2021. The deal is scheduled to close on Wednesday, March 31, 2021. Bank of America served as financial advisor to FSG, and Goldman Sachs served as financial advisor to RedBird on the transaction. Shearman & Sterling served as legal advisor to FSG, while Fried Frank served as legal advisor to RedBird.

In addition to new owners RedBird Capital, LeBron James, Maverick Carter and Paul Wachter, as a part of this transaction Red Sox President & CEO Sam Kennedy will be converting his previously held long-term incentive plan interests into an interest in FSG and will become part of the FSG ownership group.