England's two biggest clubs could change hands in the coming months with both Liverpool and Manchester United on the market.
The duo have been American-owned for more than a decade, but their respective owners are now weighing up whether it is best to cash their chips and move on. It means two of football's - not just England's - most lucrative assets are up for sale.
Manchester City, then not a powerhouse, were purchased in 2008, Newcastle were bought last year with Chelsea's £4bn plus sale going through in the summer and seeing several ears prick up as they set a new benchmark for the value of a leading football club. Liverpool and United would represent a different ball game however such is their history, prestige and commercial pull.
United's fans have long protested against the owners and would welcome a change. Liverpool meanwhile, whilst they've performed impressively under FSG, wouldn't be against it either, especially after the Super League debacle. The danger for both, which has been raised, is who could fund such a takeover?
The answer would look to be a Gulf State. Saudi Arabia and Abu Dhadi are already here, whilst across the Channel Qatar own PSG. There has been ethical questions raised over whether England's top flight want such investment, but it is fair to argue that it may be too little too late to halt a moving train.
Wealthy Americans could also be a possibility, but the fear from some is that, given the success of American sports teams, which benefit from no relegation and guaranteed revenue, what would that mean going forward. Right now though, if you had £10bn going spare, which club would you pursue? We take a look.
Stadium and training ground
This one is no contest, unfortunately for those in Manchester. If a potential buyer didn't want to invest further money into the infrastructure of a club then Liverpool would be the ideal option. Back in 2016 the main stand at Anfield was developed whilst the Anfield Road End is also being bolstered, which will take the overall stadium capacity to beyond 60,000.
The squad and all the staff also switched training bases recently, moving from Melwood, where they'd been for decades, to Kirby. Jurgen Klopp said upon moving there: "It is a wonderful building - you have everything you need now and for the future. It's pretty much perfect!"
United meanwhile is anything but perfect. The state of Old Trafford and Carrington has been criticised for years, most recently by Cristiano Ronaldo. Any prospective buyer would have to set aside huge funds, beyond the asking price, to either rebuild or start again.
The Red Devils moved to Carrington in the 1990s but minimal changes have been made to the facility, although Erik ten Hag did call for improvements in the summer. Old Trafford has also been labelled a "second rate" and can no longer compete with Europe's finest stadia.
Squad and wage bill
Go back 24 months and this would've been no contest, now, it's a big closer. Liverpool would have the edge, but there has to be an appreciation from anyone who does their due diligence that it is an ageing squad. The main stalwarts are now into their 30s and Klopp is set to ask for major funds in the summer.
A £100m plus move for Jude Bellingham has been touted with midfield a major area of concern for those at Anfield. Wage-wise, the Reds have always kept a lid on things quite well. They've stuck to a structure, but did break it to keep Mo Salah, which could open the door for other leading lights to seek parity with the Egyptian when they come to renew.
Financially though the books would make for promising reading, at least for now. United meanwhile do have players on big wages that they will want to shift, which has been a problem in the past. The squad also needs some TLC, even if £200m was spent on new recruits. United will want to get away from their previous habit of spending big with seemingly little thought.
They do though have a cluster of players who, if managed right, could be mainstays for years. The likes of Marcus Rashford, Jadon Sancho and Lisandro Martinez are all under 25. United's name though does seem to add extra zeros to asking prices and wages.
Commercial revenue
United have always been regarded as a commercial giant, which they are, but recently suffered significant losses whilst Liverpool went the other way, albeit marginally.
The Manchester outfit fundamentally make more than their Merseyside rivals, but their own totals have fallen in recent years, perhaps down to their inconsistent qualification for the Champions League. According to Statista, in 2017 and 2018, United's commercial revenue was just above £360m. It has fallen steadily since then with their 2021 total being posted at £321m.
Shirt sponsor TeamViewer are also weighing up whether to walk away from its commitments, as per the Athletic. The German company have been accused of “bleeding millions” by an investment firm, who have urged them to get out of their sponsorship deal.
Liverpool meanwhile saw a 0.2m increase, as confirmed by the club in February this year. Commercial revenue rose from £217.4m to £217.6m, but they still find themselves behind both Manchester clubs. New partnerships have helped their case, and whilst revenue has steadily risen, they are not producing the figures of their rivals.
Asking price
Based on the above, and the subsequent asking prices, Liverpool appear the no brainer choice. FSG, who bought the club for £300m, are looking to sell up for around £4bn. John W Henry's group have made it clear there is no time scale on a potential sale.
Chairman Tom Werner said: "We're exploring a sale, but there's no urgency, no time frame for us, and as far as I'm concerned, it's business as usual. One outcome could be our continued stewardship for quite a while."
United meanwhile, who were bought by the Glazers for £790m back in 2005, want a mammoth £8bn to hand over the keys to Old Trafford. It means Liverpool are near enough half the price, and in a better state.
The Glazers know they may have to lower their asking price by around £2bn with one potential buyer claiming it is "unrealistic". A minimum value of £5bn has been set and, with the current owners is no rush to sell, they will no doubt sit tight and hold out for the best bid.
Currently the sale of NFL side Denver Broncos for £4bn is the record price paid for a sport clubs - Chelsea's £4.25bn price was based on £2.5bn up front with the remainder in planned investment.
