The ownership of Tom Hicks and George Gillett is one of the darkest periods of Liverpool’s modern history. When the club was sold in 2010, FSG appeared like white knights arriving on a trusty steed to save Anfield from wrack and ruin. FSG deserve major credit for the way they have turned the Liverpool finances around.
The stewardship of Hicks and Gillett was so turbulent, tumultuous and ultimately dangerous for the club, it prompted revered Scouse writer Brian Reade to detail the period in his book An Epic Swindle: 44 Months With A Pair of Cowboys.
In 2007, Liverpool was sold to the infamous American duo. Just three years later, the club was saddled with impossible amounts of debt and was on the brink of administration.
A series of 2010 court battles saw the club wrestled from the control of the ‘cowboys’ and sold to New England Sports Ventures (now Fenway Sports Group) for a total of £300m.
Since their takeover, FSG have transformed the fortunes of the club. Liverpool have gone from a team on the brink of administration, days away from being owned by Royal Bank of Scotland, to a side in excellent financial health. In February 2019 the club announced their landmark £106m profits for the year.
The owners have expanded the stadium capacity to 54,000, multiplying match day revenue in the process. Away from the ground, lucrative commercial deals have been struck that have boosted the company coffers. The Reds are set to announce a groundbreaking new kit deal with sportswear giants Nike in the near future.
The fact that our current supplier, New Balance, are sought to appeal against the club’s decision to part ways is evidence of the financial might that the Anfield side have at the minute.
FSG deserve all the credit in the world for the way that they have turned this club around both on and off the pitch. Despite Manchester United’s success in the last couple of decades, the Glazer era has proved unsustainable, in comparison, FSG have built a structure that will see the Reds enjoy long term success. We cannot thank them enough.