Journalist Miguel Delaney has explained why Fenway Sports Group (FSG) abandoned their plans to pursue a multi-club ownership (MCO) model, and what it could mean for the firm’s CEO of Football Michael Edwards.
The Boston-based firm’s intentions to expand their footballing portfolio were reported to be crucial in enticing Liverpool’s former director of football to take up his current role two years ago, although it emerged last week that John Henry and co have now parked those plans for the foreseeable future.
Where that leaves Edwards has been the subject of speculation in recent days, with Richard Keys being told by his sources that the 46-year-old could vacate his position with FSG.
In a video on his Inside Football YouTube channel, Delaney outlined that the finances involved in acquiring football clubs ultimately prompted a change on tack as to FSG’s plans to pursue an MCO model.
He explained: “Edwards’ position is an interesting one because this new role he has, he essentially returned to Liverpool where he was supposed to be spearheading Fenway Sports Group’s project, basically to make this a multi-club ownership structure.
“They looked at over 30 clubs, from what I’m told. They wanted one in Europe, but ultimately they found the valuations were absurd. They thought they were way too high for where football is now and especially I suppose the lack of money in European football compared to England, so they didn’t feel like they’d get the same value.
“It’s been reported since that FSG have decided to go in a different direction, so certainly that raises obvious questions about Edwards’ role at Liverpool and amid a lot of feeling that he could well leave again.”
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The Athletic‘s James Pearce has reported that Edwards was privately left ‘frustrated’ by the impasse regarding FSG’s plans to establish an MCO model, with his and his team’s efforts in travelling around Europe for the past two years to assess potential clubs to acquire now being left futile.
While a multi-club structure could’ve opened certain doors for Liverpool in terms of player recruitment and a loan pathway for young prospects, many Reds supporters will probably be relieved that the club’s owners have abandoned those plans.
MCO has become a thorny issue in European football (just as Crystal Palace fans about it), and such models threaten to strip clubs with decades of tradition of their identity as they instead become incorporated into a network which generally serves the benefit of one overarching club.
If FSG felt that there wasn’t sufficient value to be found from pursuing multi-club plans, then they’re right to bail on the idea, even if it means risking the wrath of Edwards, whose previous work as LFC’s sporting director was exceptional.
Will Liverpool’s owners revisit the possibility at a later stage? Possibly, but we’re certainly not sorry to see it being shelved for the foreseeable future.
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