Fenway Sports Group, the owner of Liverpool, bought the club in October 2010
Liverpool chief executive Billy Hogan has admitted the owners of Fenway Sports Group had no idea how big the Reds were when they bought the team 13 years ago.
FSG bought the club weeks out of administration in October 2010 and the purchase of the club from the disastrous Tom Hicks and George Gillett administration was finally settled at the High Court in London with a company led by John Henry. , then known as New England Sports Ventures, bought the Reds for £300 million. That £300 million purchase price has now transformed the club’s value into more than £4 billion, making Liverpool the most valuable asset in FSG’s sporting portfolio.
Over the past 13 years, Liverpool has seen many changes and the infrastructure of the club has improved significantly, especially with the extensive renovation of Anfield from a 45,500-capacity stadium to a stadium following the Anfield Road End work in 2016. in the coming months. , the capacity is 61,000.
The overall revenue stream has increased and the club, under Jurgen Klopp, has been able to capitalize on the success of recent seasons with all available club silverware arriving in the trophy cabinet at Anfield. FSG’s ownership has not been without challenges and criticism, with public setbacks such as season ticket price hikes, layoffs during the pandemic, branding the Liverpool name and attempts to join the European Union. The Super League after seeing them angered many Reds fans.
The self-sustaining model developed at the club, while it succeeded in lifting the club back into the world’s elite, was attacked for its perceived inability to keep up with relentless spending. some of its competitors who may be less interested in maintaining a strong company.
Hogan was part of the management team that bought the Reds in 2010 and has been part of Liverpool ever since, taking over the role of chief executive from Peter Moores in September 2020. Speaking to SportPro Media at the SportPro APAC conference in Singapore earlier this In the summer, Hogan was asked about the Reds’ signings and the strategy they continue to rely on.
Hogan said: “It was very public. It is fair to say that Liverpool were badly managed and headed for bankruptcy and administration. We as FSG were late in the process and if we didn’t close by the end of the month by mid October they would be running the club so it was sad.
“From our point of view, we were convinced of the size and scope of the club and the opportunities available. I think maybe we didn’t realize how big the club really is and I’ve been with the club for over ten years now.
Hogan says FSG is focused on three key areas for Liverpool to succeed, which explains the considerable work it took 13 years ago to turn around a struggling club and business that suffered from a lack of investment. increasing
“We’ve had experience in managing sports assets and sports real estate and trying to do it sustainably, which we draw on a lot. We focus on three main things.
“It’s football first and foremost and ultimately the goal has to be to win and that’s certainly our goal at FSG and at Liverpool.” Second, we looked at infrastructure; Anfield, training facilities, offices, club shop. You name it, infrastructure was not invested. Finally, we looked at the business side and I think the term “sleeping giant” was used a lot in the sales process. This is something proven to be true. The investments affected the commercial side of the club and the possibility of increasing income and profits. We think we’re going to work just as hard off the field to help what’s happening on the field and if we can increase revenue and support what Jurgen and the coaching staff and the football team have to do and now Matt Beard and the team going forward. on the women’s side, that is our goal.
“It’s really putting your head down and working as hard as you can to try to make these things happen. It’s not easy. Today’s world is looking for instant gratification and a quick turnaround, and these things take time. Fortunately, we have been quite successful over the past decade.
