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FSG: Calls on Swinehart

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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.

FSG Makes Formal Announcement on James, RedBird Partners Investment

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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.

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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.