March 12, 2024

Liverpool owners FSG on the lookout to buy new club as bold plan comes to light | Football | Sport


Liverpool FC owners Fenway Sports Group [FSG] want to expand beyond the Reds and purchase another club to increase their global reach. The club confirmed its intentions to acquire new entities after Michael Edwards returned in a new role.

FSG named Michael Edwards, the club’s previous sporting director, its new CEO on Tuesday. Edwards’s responsibilities will include finding a new sporting director at Liverpool and a new coach when Jurgen Klopp leaves at the end of the year.

Several of his assistants will presumably follow. Edwards will also help the ownership group determine which other assets they can acquire through their investments.

An FSG statement read: “[Edwards] will assume a broad range of responsibilities including leading efforts to identify and recruit new leadership for Liverpool FC’s football operation, and supporting the growth of FSG in global football through additional investment and acquisition.”

In his own statement, Edwards spoke about the expansion being a key part of his decision to accept the new role. He shared that one of the most significant elements in his determination to accept the new role was FSG’s commitment to acquire and oversee an additional club. The newly appointed CEO said that to remain competitive in European football, investment and expansion “is necessary.”

“With Liverpool FC, I will oversee the required reinforcement of football operations, with a number of essential leadership positions needing urgent attention. I know from personal experience what a wonderful job Mike Gordon has done with day-to-day oversight on behalf of his fellow owners,” Edwards said.

“Going forward I’m looking forward to working with FSG’s board of managers. Also, in assuming this role, I fully understand that it comes with great expectations, and I therefore intend to identify, hire, and subsequently empower leaders who meet and embody the club’s values and ambitions.”

Klopp has decided to leave the club two years before his contract expires due to running out of energy with the team after joining in 2015. He initially informed board members of his decision in November, giving the ownership group plenty of time to search for a successor.

It is currently unclear which teams FSG is interested in purchasing, but several Premier League ownership groups own additional teams across the globe. City Football Group [CFG] owns Manchester City along with other clubs such as New York City FC, Melbourne City FC, Yokohama F. Marinos, Girona FC, Montevideo City Torque, Mumbai City FC, Lommel SK, and Troyes AC. Similarly, Red Bull GmbH, although not a Premier League owner, is notable for owning numerous football teams, including RB Leipzig, FC Red Bull Salzburg, New York Red Bulls, and Red Bull Brasil.

Forbes reported last year that FSG is the third most valuable sporting empire in the world, with a valuation of $9.8 billion. The group owns numerous prominent sports subsidiaries, including the Boston Red Sox, Liverpool, Pittsburgh Penguins, TGL Boston, RFK Racing, and minor league baseball teams such as the Worcester Red Sox and Salem Red Sox.

In football, FSG has played an essential role in Liverpool’s success, leading them to win eight prestigious trophies, including the Premier League, Champions League, and FIFA Club World Cup. Currently, in the 2024 table, the Reds hold the No. 2 spot and are in close competition with Arsenal and Man City for the top position, with only nine games left in the season.



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