Football has been postponed until further notice and it is just awful. The Reds were 25 points clear at the top of the Premier League table and looked nailed on for their first title in 30 years before the global health crisis interrupted the season, with no resumption date in sight. With football in a financial crisis, we can be thankful that FSG have brilliantly steered us into relative safety.
Prior to the ownership of FSG, The Reds were owned by George Gillett and Tom Hicks. During their tenure at the club the American duo drove the team into the ground, lumbering the side with eye watering debts, leaving the famous Liverbird on the brink of administration.
If you ever want to fully understand the turmoil of this bleak period in the club’s history then you need look no further than Brian Reade’s brilliant book An Epic Swindle: 44 Months With A Pair of Cowboys.
FSG swooped in and saved the day, buying Liverpool for £300m in 2010.
Since their purchasing of the club, FSG have miraculously taken The Reds from financial ruin to the epitome of health.
In 2019, Liverpool announced world record profits of £106m. This was followed by profits of £42m announced in 2020 despite record spending.
The very vitality of football is under threat from the global health crisis. Matches aren’t being played; clubs are missing out on gate receipts, pies sold, sponsorships, prize money and TV money.
Some clubs could go bust if plans are not in place to prop up the most vulnerable.
Thankfully for Kopites, FSG have put Liverpool in the strongest possible financial position to deal with this period of instability, we can afford this hit.
Fingers crossed that those in less healthy positions manage to come out of the other side of this crisis.