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Fenway Sports Group, LLC, is an American sports company. It is the parent company of Major League Baseball's Boston Red Sox and Liverpool F.C., a Premier League soccer team. FSG was founded in 2001 as New England Sports Ventures when John W. Henry joined forces with Tom Werner, Les Otten, The New York Times Company, and other investors to successfully bid for the Red Sox. NESV formally announced its name change to Fenway Sports Group in March 2011. In addition to owning the Red Sox and Liverpool F.C., the Boston-based limited liability company also owns the home stadiums for both teams and Fenway Sports Management, plus 80% of the New England Sports Network and 50% of Roush Fenway Racing, with cars entered in the NASCAR Cup Series racing competition. In an April 2014 article in Forbes, senior editor Kurt Badenhausen called FSG "the most sophisticated, synergistic player in the coming age of international sports conglomerates".