Monday, January 30, 2023

‘Sources have told me’ – Ornstein delivers major update on Liverpool takeover

‘Sources have told me’ – Ornstein delivers major update on Liverpool takeover

David Ornstein has provided a significant update on the Liverpool takeover and the probability that the club will be sold to an oil-rich investor.

Monday of last week, Ornstein broke the news to the Athletic that Liverpool owners Fenway Sports Group (FSG) had put the club up for sale and that a comprehensive presentation had been prepared for potential buyers.

FSG responded with a statement claiming they “would consider new shareholders” provided it was in the “best interests of Liverpool as a club”

 “FSG remains fully committed to the success of Liverpool, both on and off the pitch,”  they added.

This resulted in speculation and some anxiety regarding the club’s potential next buyer. Would it be a different American venture capitalist? Or perhaps a state rich in oil?

Is Liverpool being sold to a nation-state?

Several potential buyers have been linked to Liverpool, including Dubai International Capital from the Middle East.

In fact, many of the club’s fans and manager Jurgen Klopp would not approve of such a purchase from an oil-rich backer. However, according to Ornstein, FSG would not sell to a nation-state.

Speaking to Sky Sports, the journalist said: “He’s [Klopp] just signed a new long-term contract and, from what we hear, he’s been reassured by the ownership that they’re not going to do this rapidly.

“They’re going to do it – if it happens – to the right people.

“And therefore, I think they would have that moral compass as well, FSG. I don’t think they will want to pass Liverpool into hands they’re not happy with.

“You’re already hearing rumours within the industry that they’ve rejected approaches, or they’re not keen to go forward with, expressions of interest from parties that they perhaps don’t feel are the right route.

“And by that, many people would assume a nation-state because we’ve seen what’s happened with Manchester City, Newcastle United, PSG and the sort of level of investment it takes to compete with that investment.

“Jurgen Klopp has almost hinted, in their existing model which is self-sustainable at Liverpool, that they’re unable to do that. So it will be interesting for Klopp but I think FSG will be conscious of the same matters.

“But it is going to take someone with extremely deep pockets if it’s going to be a full takeover because we’re hearing reports of £4 billion which would take them above or around the levels Chelsea went to.”

Mike Gordon role in Liverpool sale

Since Liverpool was put up for sale, Mike Gordon’s responsibilities have been assumed by Billy Hogan, the club’s chief executive.

Ornstein stated that this is because FSG’s president, Gordon, will “concentrate” on the potential sale of the club.

He continued: “You’re seeing the signs already that things are starting to change at Anfield because Mike Gordon, who has been in charge of operations on a day-to-day perspective, we reported – it was also in the Boston Globe which is owned by John Henry – that Gordon is going to take a step back and Billy Hogan, the chief executive, is going to be taking on greater responsibility.

“It’s been described as a natural evolution but sources have told me that Mike Gordon will be working on the potential sale and focusing on that.

“This is a real situation and we’ll have to see how it develops.”

‘Sources have told me’ – Ornstein delivers major update on Liverpool takeover

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