Twentytwo13

Nothing wrong with FSG testing Liverpool’s marketability, says Steve Darby

Liverpool

Fenway Sports Group’s (FSG) willingness to sell part or all its shares in Liverpool has caught many by surprise.

On April 1, 2021, United States firm RedBird Capital Partners bought a stake in FSG for £533 million, but this is the first time the latter is offering shares in Liverpool.

FSG said it “frequently received expressions of interest from third parties seeking to become shareholders in Liverpool” and added it would consider new shareholders if it was “in the best interests of Liverpool as a club”.

Goldman Sachs and Morgan Stanley were hired, and a sales presentation was created for interested parties.

A group of fans, unhappy with the apparent lack of spending by the Americans, is delighted, while others who appreciate the cautious nature of John Henry and his partners, are torn.

Veteran coach Steve Darby, no stranger to Asian football fans following a career that took him to Malaysia, Vietnam, India, Singapore, and Australia, said he understands FSG’s decision to test the market.

“FSG are objective, rational businessmen. You pay £400 million for an asset (Liverpool), and you can sell it for close to £5 billion. That is a superb piece of business,” said Darby, now back home in Liverpool.

“People must remember that the club is an asset FSG acquired. They may have enjoyed the ride, but it would never be in their heart, like it is to fans.”

Darby knows many fans are opposed to Liverpool being sold to a Middle Eastern prince, while others dream of “unlimited wealth to buy top players”.

“The club has a historic socialist base. It was epitomised by Bill Shankly, and Jurgen Klopp shares those values.

“Some fans think it would be great to get Arab (Crown Prince of Dubai Hamdan Mohammed Al Maktoum) or Indian money (Subrata Roy or Mukesh Ambani).

“They think that would mean Liverpool would buy the likes of Kylian Mbappe, Jude Bellingham, or even Karim Benzema.

“That is what they want – success to rub in Everton, Manchester United, and Manchester City’s faces. However, most fans do not want to be part of an oligarch or sovereign state.

“So, it is perceived values versus perceived success.”

FSG took over Liverpool from fellow Americans Tom Hicks and George Gillet Jr on Oct 15, 2010.

In 12 years, it has overseen seven major trophy victories – English Premier League (2020), Champions League, UEFA Super Cup, Club World Cup (2019), FA Cup (2022), League Cup (2012, 2022), and the Community Shield earlier this season.

It has invested about £250 million in club facilities, erecting a new Main Stand in 2016, and finishing the AXA Training Centre in November 2020.

The club is a few months away from finishing its £80 million Anfield Road expansion project, which will increase Anfield’s capacity beyond 61,000.

It has also spent big on players, shelling out a then-world record £65 million for a goalkeeper (Alisson Becker), and £76.2 million for centreback Virgil van Dijk.

Those signings transformed Liverpool, but FSG had financed the move by selling Philippe Coutinho to Barcelona for an initial £105 million, rising to £142 million with add-ons.

A section of the fandom is upset that FSG sells to buy, instead of splurging its cash to reinforce the team.

The question is, if and when new owners come in, would they invest in the squad?

FIXTURES (Malaysian time)
SATURDAY

Manchester City vs Brentford (8.30pm)
Liverpool vs Southampton (11pm)
Bournemouth vs Everton (11pm)
West Ham vs Leicester (11pm)
Tottenham vs Leeds (11pm)
Nottingham Forest vs Crystal Palace (11pm)

SUNDAY
Newcastle vs Chelsea (1.30am)
Wolves vs Arsenal (3.45am)
Brighton vs Aston Villa (10pm)

MONDAY
Fulham vs Manchester United (12.30am)