Why does FSG want new investment - and could it lead to a full sale?

[Getty Images] When Fenway Sports Group sold a minority, single-figure percentage stake to global sports investment firm Dynasty Equity in 2023, that deal allowed it to make up on revenue lost during the pandemic and pay down debt for projects such as investment in the club's training centre in Kirkby and the Anfield Road stand expansion. This time around, that is not the case - the club are in a strong position financially. In February, Liverpool confirmed record revenues of more than £700m and was the highest-placed Premier League club in the Deloitte Football Money League. So this development certainly raises questions about the long-term future of FSG. From an FSG perspective, it has seen Liverpool win everything there is to win since buying the club in 2010 for £300m, while upgrading the training ground and developing the stadium. According to the Financial Times, a deal with the Bhatia consortium would value the club at about £4.5bn. So, perhaps FSG believes the club is peaking and it may be time to start stepping away. This is an uncertain time for Liverpool. They have a new head coach in Andoni Iraola and there have been big changes at senior level, with Michael Edwards stepping down as FSG's CEO of football, primarily because the ownership had moved away from the idea of investing in other football clubs. Meanwhile, sporting director Richard Hughes has been strongly linked with a move to Al Hilal in Saudi Arabia. Read more about the potential investment in Liverpool