Liverpool will be watching with interest as UEFA are set to release a statement today relating to a key element of FSG’s masterplan.
Fenway Sports Group launched their sporting empire with the acquisition of the Boston Red Sox in 2001.
Their portfolio has now grown to encompass Liverpool and NHL outfit the Pittsburgh Penguins, as well as a number of other smaller sports teams.
But John Henry and his FSG colleagues are yet to fulfil one long-held ambition.
The Boston-based investment firm have been interested in launching a multi-club football network for some time and have been linked with takeovers in Europe, the US and South America.
However, the latest noises coming from UEFA regarding multi-club ownership might have a major impact on how they proceed from here.
UEFA statement could rule out Toulouse takeover
As reported by The Times, UEFA are set to announce changes to their rules on dual ownership today.
Under the current system, clubs under the same ownership umbrella cannot compete in UEFA club competitions like the Champions League simultaneously.
However, the governing body appear to be ready to be lenient with both Man City and Man United, whose respective sister clubs Girona and Nice have qualified for Europe this season, before phasing a new stricter approach in from 2025-26.
FSG have recently been linked with a buyout of French side Toulouse, which would likely be worth around £40m based on the club’s sale price in 2022 and other Ligue 1 takeovers in recent years.
Toulouse are owned by Red Bird Capital, who in turn are minority investors in Liverpool themselves after purchasing an 11 per cent stake for £533m in 2021.
But an investment in another football team would be far less attractive if the club in question would effectively be banned from playing lucrative European football at the same time as Liverpool.
It could well be then that FSG set their sights elsewhere if, as is expected, UEFA closes the net on multi-club ownership.
Why FSG want a multi-club model: trading, sponsorship, strategy
The likes of Man City have used the multi-club system to great effect to navigate post-Brexit rules around player recruitment.
They have generated handsome profits from players who have barely played any minutes for City themselves in the process, as well as blooding players for their own first team within their network.
Sponsorship is also likely a consideration for FSG and Liverpool.
City Football Group, the Red Bull network and other structures have boosted commercial value through co-branded marketing initiatives and other collaborations.
Many investment groups are aware that buying a new team can potentially add exponential value to their portfolio more quickly than continuing to grow a club that has reached a plateau in terms of value too.
From a sporting perspective, Liverpool could also benefit from a ready-made scouting network in a new region, as well as knowledge sharing and other strategic synergies.