Fenway Sports Group has reiterated its plan to expand into a multi-club ownership model as part of efforts to strengthen the long-term competitiveness of Liverpool FC.
Speaking at the Financial Times Business of Football Summit, FSG president Mike Gordon confirmed that acquiring another football club remains a key part of the organisation’s strategy.
According to Gordon, expanding the group’s football portfolio would help Liverpool gain a competitive advantage in the rapidly evolving global football landscape.
“To remain competitive, we must identify every avenue available to us to gain an edge,” Gordon said, adding that acquiring another club could strengthen the group’s overall football operations.
The multi-club project gained momentum when Michael Edwards returned to the organisation in March 2024 to take up the newly created role of CEO of Football within Fenway Sports Group.
Edwards’ appointment came shortly after the departure of legendary Liverpool manager Jurgen Klopp.
However, his responsibilities extended beyond finding a successor to Klopp. Edwards reportedly accepted the role after receiving assurances from FSG that the group was committed to acquiring another football club.
Liverpool would remain the centrepiece of the project, but Edwards believed the organisation needed to expand its football footprint to keep pace with the changing structure of modern football.
The strategy follows a growing trend among elite football organisations adopting multi-club ownership models.
Successful examples include: City Football Group, which owns multiple clubs worldwide led by Manchester City, Red Bull GmbH, which runs a network of clubs including RB Leipzig, BlueCo, which owns Chelsea FC and RC Strasbourg
These systems allow clubs to share scouting networks, develop young players across multiple teams, and expand global commercial opportunities.
Liverpool’s owners have already explored potential acquisitions.
Reports indicate that FSG held preliminary discussions with Spanish clubs including Malaga CF and Getafe CF in 2025.
However, negotiations have not progressed significantly since those early talks.
Despite the slowdown, Gordon’s recent remarks confirm that the group remains committed to implementing the multi-club strategy.
The rapid expansion of multi-club ownership models has also raised concerns within European football’s governing body.
UEFA has warned that the trend could threaten the integrity of continental competitions.
A spokesperson noted that the increasing number of clubs owned by the same investors raises the possibility of two related teams facing each other in major tournaments such as the UEFA Champions League.
“The rise of multi-club investment has the potential to pose a material threat to the integrity of European club competitions,” UEFA said.
Despite those concerns, some football executives believe the model is essential for clubs competing with teams backed by sovereign wealth funds.
Steve Pagliuca, owner of Atalanta BC, supported the concept at the same summit.
He argued that multi-club ownership is one of the few viable strategies for privately owned clubs seeking to compete with wealthier rivals.
For Liverpool and FSG, the coming years could prove decisive.
Michael Edwards and the ownership group have publicly committed to building a multi-club network that could support Liverpool’s sporting ambitions.
However, increasing regulatory scrutiny from UEFA and evolving rules around club ownership could influence how quickly and how far the project develops.
For now, Liverpool remains the centrepiece of FSG’s football strategy, but the group’s long-term vision clearly extends beyond a single club.
