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Liverpool Echo
Liverpool Echo
Sport
Dave Powell

FSG set for financial boost as Liverpool owners recover from £70m blow

Liverpool owners Fenway Sports Group look set to be handed a financial boost after it was revealed that the Boston Red Sox could be back at 100 per cent stadium capacity by the summer.

The financial impact of the coronavirus pandemic has been felt keenly on both sides of the Atlantic by FSG with Liverpool posting a £46m pre-tax loss for the year ending May 2020. That figure that will likely be worse when a full year of Covid-affected football with no fans in stadiums is shown in next year's published accounts for the year ending May 2021.

Having no fans inside Anfield has hurt Liverpool on the pitch, with the Reds unable to call on their 12th man to pull them through some sticky situations this season. But off the field the impact has been considerable also, with matchday revenue equating to around 13 per cent of the club's annual revenues.

Matchday revenue for 2019/20 was down £13m to £71m owing to four fewer home games. With next year's matchday revenues likely to be close to nil, the financial pain has been significant.

But it has been felt even more so in Boston, with the Red Sox having had their Fenway Park stadium shuttered at the end of last season as the pandemic took hold, with Major League Baseball relying on game day revenues for around 40 per cent of overall revenue.

As the US vaccination programme continues to be delivered at pace, fans have been able to return to watch baseball in phases.

Boston were able to welcome back 12 per cent of capacity a few weeks back, rising to 25 per cent recently. And Sam Kennedy, Red Sox president and FSG partner, is hopeful that 100 per cent capacity will be reached by the summer, something that will come as a huge financial boon to FSG and the Red Sox as they look to try and mitigate the impact of Covid on their baseball operations that lost over £70m last year alone.

Speaking to the Greg Hill Show on local Boston radio station WEEI, Kennedy said: "We are hearing all good news. Things are getting much, much better.

"The state and the city tell us that they are hopeful and we're on track for opening to 100 per cent capacity at some point this summer, no specific date but we are hoping that August 1 would be the latest.

"We've got concerts scheduled so we are hoping to be at full capacity as soon as possible. Just to go to 25 per cent was great, with 10,000 people (against the Oakland A's), it really makes a difference.

"Hopefully soon the numbers will come down. Soon, soon, we hope (to open at full capacity)."

The sooner the better would, of course, be more beneficial to the Red Sox, and they will be hoping that there are no bumps in the road to get to that point.

While the Indian variant of coronavirus has caused some concern in the UK, the government has pressed ahead with plans to move to the next stage of their Covid 'roadmap', with further restrictions eased from Monday 17 May.

Anfield will welcome back 10,000 fans for the clash with Crystal Palace on May 23, meaning that fans will be able to cheer on the Reds in person before the close of this Premier League season.

Prime Minister Boris Johnson hinted that should the latest Covid variant drive up infection rates significantly then the proposed re-opening of society on June 21, where mass events would be permitted, would be reconsidered and possibly delayed.

FSG will be hoping that come the start of the next Premier League season the bottom line will be aided by the return of fans at 100 per cent capacity at both Anfield and Fenway Park. However, such has been the nature of the pandemic thus far, no owners can plan ahead with any kind of certainty.

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