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Liverpool owners change plans on creating multi-club empire
Martin Macdonald
- Updated: 20 Mar 2026 19:36 GMT
- 5 min read
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Fenway Sports Group, the conglomerate that owns Liverpool, have scrapped multi-club ownership plans that would have seen them purchase another European side.
In 2024, FSG confirmed their intentions for a multi-club ownership model and they were subsequently linked with takeovers of Getafe, Malaga and Bordeaux.
Twenty-five clubs were assessed across Europe with an emphasis on France, Spain and Portugal. The Athletic reports that an investment in Ligue 1 giants Monaco was also discussed.
The venture into multi-club ownership began when Michael Edwards returned to the club as football CEO after a two-year period away.
Two years ago, FSG president Mike Gordon told staff in an email that plans were already in motion to buy another club in addition to Liverpool.
He wrote: “To remain competitive, we must identify every avenue available to us to gain an edge. To this end, Michael will use every tool at his disposal and has already identified the acquisition of another club as one channel that will help fortify our overall operation and drive our competitive ambitions.”
The Athletic reports that those plans have been scrapped and that FSG will not pursue a takeover of another club for the time being.
Edwards said upon his return: “It was vital for me that, if I did return, it had to be with renewed vigour and energy. In practice, this means having fresh challenges and opportunities.
“As such, one of the biggest factors in my decision is the commitment to acquire and oversee an additional club, growing this area of their organisation. I believe that to remain competitive, investment and expansion of the current football portfolio is necessary.”
FSG have owned Liverpool since 2010 and the club has enjoyed its most successful period of the modern era, with two Premier League wins and a Champions League victory.
Though FSG have no plans to buy another football club, they own teams in other sports such as Major League Baseball side Boston Red Sox, NASCAR’s RFK Racing, TGL’s Boston Common Golf and National Hockey League side Pittsburgh Penguins.
They could soon pocket $1.7billion (£1.27bn) from the sale of the Penguins to the Chicago-based Hoffmann family, however.
It was rumoured that FSG were going to back basketball legend LeBron James' plans for a Las Vegas-based NBA side, but it proved too costly.
Why have FSG dropped their multi-club ownership plans?
Simon Van Kerckhoven, a former consultant for City Football Group - a MCO model - who now runs two football consultancies, explains four reasons why the plans have been scrapped.
“The first is that it seems to be very risk-averse,” he told The Athletic. “We know that FSG has looked at several clubs. But, for whatever reason, something has scared FSG off. We don’t know if it was something to do with the debt structure, revenue projections or something else; we just know they haven’t pulled the trigger. That makes me think they are inherently risk-averse.
“The second is to do with timing and how quickly FSG makes decisions. The best time to buy a club is January to May, as that is when you should know if you are going up or down, or into Europe or not, and you have the summer to make changes. But this means you don’t have as much time as you might think. You have to be ready to move and I get the impression that FSG takes a long time to make a decision.
“The third is that I think it is true that some of the buzz about MCO has faded. It is still happening, I just think the big rush might be over. And that is because of the high-profile problems with 777 and Eagle Football Group. That has hurt the MCO model.
“But the final reason is that FSG has never explained what its MCO plan is. Is it to create a development hub? Is it, like Red Bull, to give them access to a new market? It is somewhere to park loan players? Or is it just to diversify the investment portfolio? I have no idea.”
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