Liverpool owners FSG get green light on major £1.2bn plan

Liverpool owners Fenway Sports Group have been given the green light to press ahead with major plans for a $1.6bn (£1.22bn) redevelopment of the area around Fenway Park in Boston.

FSG have partnered with WS Development and Twins Enterprises over a major real estate regeneration plan for the streets that surround the home of the FSG-owned Boston Red Sox, with the plans having been known as ‘Fenway Corners’.

The proposals would see eight new buildings constructed around Fenway Park, creating more than two million square feet of space for retail, offices, restaurants, residential units and public space, with the size of the new buildings ranging from two to 19 stories.

On Monday, as first reported by the Boston Globe, a newspaper owned by FSG supremo and Liverpool principal owner John Henry, approval was given for the project by the Boston Planning and Development Agency, although further permits will need to be obtained before construction can begin.

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The push for real estate development is a major part of FSG’s plans for growth as a business, with other North American sports teams having seen success with multi-use development, such as the Atlanta Braves, the baseball team owned by Liberty Media, a firm that has previously been linked with a minority investment play in Liverpool.

Last year saw the opening of another Boston-based FSG real estate project, the 5,000-seater MGM Music Hall adjacent to Fenway Park.

Speaking to Bloomberg last week, FSG partner and Boston Red Sox CEO Sam Kennedy spoke on the company’s plan to grow its real estate portfolio,