Liverpool’s financial worries appear to have been eased following a ‘significant investment’ in owners Fenway Sports Group by RedBird Capital Partners.
The agreement will see the investment firm pump a whooping £538million into FSG at a time when finances across the game sport have suffered due to the coronavirus pandemic.
This lucrative new deal, believed to be a 10 per cent minority holding, is expected to bring some much-needed financial stability to the Premier League champions who suffered an estimated £120milllion loss over the past year.
As a result, Liverpool will be expected to continue to be competitive in the transfer market as the stress of pandemic-related financial concerns will be relieved.
The club hopes to operate within the same parameters they did prior to the shutdown of football in March 2020, and the subsequent return of matches behind closed doors.
This will come as welcome news to manager Jurgen Klopp, sporting director Michael Edwards, and the club’s wider recruitment team as the Reds look to return to the Premier League and European summit.
Liverpool will also expect to press forward with plans to add 7,000 seats to the Anfield Road end of their home ground, a project that may have otherwise been at risk.
As part of the deal, NBA star LeBron James along with business partners Maverick Carter and Paul Wachter are set to become part of FSG’s ownership group along with RedBird.
In a statement, FSG declared: “Our strategic partnership with Gerry [Cardinale – founder and managing partner of RedBird], and the entire team will enhance our ability to pursue future growth opportunities in a more accelerated way but with the same selectiveness that has served us so well.
“We are also pleased to welcome to our ownership group LeBron, Maverick and Paul, with whom we have enjoyed a successful collaboration for well over a decade. Their addition is an important milestone for FSG and expands and deepens a long-time friendship and relationship that began in 2010.
“To our fans and supporters: Winning continues to be the driving force for all of us. The growth of FSG as an organisation allows us to further strengthen our resources and commitment to the communities we serve, and we look forward to having these talented new partners join us in the next chapter of FSG’s evolution.”
FSG took full control of the Anfield club in 2010 and following the appointment of Klopp five years later, saw the Reds lift the Champions League in 2019 before securing a first league title in 30 years 12 months on.