How FSG sale plan will impact Liverpool transfer…

How FSG sale plan will impact Liverpool transfer business with takeover alternative suggested

For Liverpool there remains a degree of uncertainty around what is to come.

Owners Fenway Sports Group have opened themselves up for the first time to expressions of interest from those seeking a full takeover, although the stance remains that it is "business as usual".

The Boston Globe, a newspaper privately owned by FSG principal John Henry, reported on Thursday that the Reds owners were leaning towards a 'partial sale' of the club as opposed to a full takeover, although both options remain on the table and the group in dialogue with parties interested in both sides of a deal.

There is a strong chance that FSG remain custodians of the football club for a considerable amount of time yet, with well-placed US sources having informed the ECHO that the move to seek outside investment and accept expressions of interest in a full sale was "explorative" and a case of the Liverpool owners "testing the waters" in the wake of Chelsea's £2.5bn sale that created a huge amount of interest from willing bidders.

But the uncertainty does come at a time when Liverpool need to spend in the transfer market to address the issues that have dogged them during the early part of the season.

The Reds are in need of considerable money being spent, particularly on their midfield options, and it will have to be recruitment conducted without much coming back into the club from transfer sales recouped, with little in the way of saleable assets that would generate significant sums that the club would be willing to part company with.

Names such as Jude Bellingham, Declan Rice and Cody Gakpo have all been linked with the Reds, and whether it arrives in January or the summer, transfer spend is needed, with one suggestion from the Globe's sources being that minority investment could arrive to aid player recruitment.

But with the possibility of a full takeover not off the table, transfer spend can have an impact on discussions when it comes to the changing of ownership.

Sports lawyer and author of the book 'Done Deal', Daniel Geey has been involved in a number of high profile takeovers and told the ECHO recently: "When a takeover goes on, until a deal is done there are rules around new owners materially influencing decisions.

"What tends to happen is that owners will be more cautious about big signings or deals because ultimately things are paused or put on hold if new owners want to view a deal. Generally, buyers and sellers would have to be on the same page over big spending."

A full takeover would be a far lengthier process to complete, with due diligence and legal requirements needing to be fulfilled. Such delays could cause some level of reluctance to spend big if a deal was in the process of happening.

If FSG wanted to close on the sale of a minority stake then it would be a swifter process that would have little impact on transfer plans.

Said Geey: "The speed of any sale would depend on what the strategy would be, what type of sale is it?

"A 10 per cent minority shareholding sale is a different beast to a full sale. When you take a minority stake you will do due diligence over all assets and costs, although you aren't likely to have a real say. It is a speedier process.

"If you are buying a club, spending whatever valuation is placed upon it, because you are buying a club at high value you will want to know far more detail about the nuances of what is going on and more extensive due diligence will be conducted into every facet of the club and there will be a significantly negotiated legal document that accompanies the sale."

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