Liverpool boost as owners confirm $735m RedBird deal for stake in FSG

• Pandemic has cost club 120m in lost revenue over past year
• Deal will enable Liverpool to sign players at pre-Covid levels

RedBird Capital Partners, the private investment firm part-owned by the NBA star LeBron James, has bought a stake in Fenway Sports Group for about $735m (533m), Liverpool's owners have confirmed.

FSG has been in negotiations with RedBird for several months as it sought investment to cushion the financial impact of the pandemic, which is understood to have cost Liverpool 120m in lost revenue over the past year. That figure is set to increase and the deal with RedBird, which will become the third-biggest partner in FSG, will enable Liverpool to continue with plans to redevelop the Anfield Road stand and invest in player recruitment at pre-pandemic levels.