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Liverpool Echo
Liverpool Echo
Sport
Dave Powell

Tom Werner comments pose questions about Liverpool and FSG's next phase

Over the past week it has been a case of boots on the ground for Fenway Sports Group with regards to their latest acquisition.

Back in November, Liverpool owners FSG acquired the Pittsburgh Penguins NHL ice hockey team, with the Penguins valued at close on £650m at the time of the sale.

It was a part of FSG's plan for expansion of their empire, one that also includes the Boston Red Sox baseball team, the RSK Racing NASCAR team, Fenway Sports Management, Fenway Sports Group Real Estate and the NESN regional sports TV network, as well as other investments such as the stake held in FSG partner LeBron James' SpringHill Entertainment company.

It came on the back of the £550m investment into the business from RedBird Capital Partners last March, with the private equity firm taking an 11 per cent stake in FSG's overall operations. The capital injection was earmarked for aiding FSG to press ahead with infrastructure development, as seen with the Anfield Road End in Liverpool and the surrounding areas around Fenway Park in Boston, as well as team acquisition, something that there could well be more of in 2022.

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Buying a majority stake in the Penguins saw FSG add one of ice hockey's most storied franchises.

And the past week saw Liverpool chairman Tom Werner pay a visit to Pittsburgh to make clear FSG's vision as well as taking in a came at the PPG Paints Arena.

FSG are understood to remain committed to Liverpool for the long term. The Reds are, after all, their most valuable sporting property that drives the highest revenues, not to mention the team that has the widest appeal globally.

So where do they see things going for the Penguins and what might it suggest about their own thinking around Liverpool, given that they operate a rather uniform policy when it comes to strategy across their teams?

"If you have money, and you have brains, hopefully you'll be successful," Werner said to the Pittsburgh Post-Gazette.

"We felt when we got involved with the Red Sox they hadn't won a World Series in 84 years. This is a team that is an outstanding team on and off the ice. It's got a great role in the community. I care very much about our relationship — not just to their fans, but to the community in Pittsburgh. We are lucky to be stewards of the franchise right now.

"One of the things that I said is we like to under promise and over deliver. So we don't have a timetable right now.

"But we think if you look back at that development parcel in a few years, it will be quite different than what it is now."

It's probably true that FSG have under promised from when they took the reins at Liverpool back in 2010 following the disastrous tenure of Tom Hicks and George Gillett.

The club has gone from being on the brink of administration to being one of the most economically profitable clubs in world football, one who have been able to invest in infrastructure and wage bill growth, although some would have rather them been more willing to spend when it came to the transfer market. But spending to the detriment of cash flow has never been the FSG way, nor will that be something that is likely to change in the future.

Yet have they over delivered? The 30-year wait for an English league title ended on FSG's watch, and they added a sixth European crown when the Reds won the Champions League in 2019.

But the hiring of Jurgen Klopp was a watershed moment for Liverpool and FSG, and when the German does leave Anfield will there be a nagging feeling that more could have been achieved, or have Liverpool been bucking the trend and showing a different way to achieve success without sovereign wealth and oligarch money?

The Penguins are at the beginning of their FSG journey while Liverpool are 10 years in, with the Red Sox approaching 20 years under the ownership of John W Henry and Werner.

The Red Sox approach hasn't really deviated too much apart from the odd season, but US baseball and English football are very different beasts.

FSG did deliver Liverpool to the summit of English football again. Their challenge now is a different one to what it was when they came in.

The need is to find a way that they can keep pace and go blow for blow with the likes of Manchester City and Chelsea while operating in a completely different way. It wouldn't really be 'over delivering' now, it would simply be delivering on what was expected.

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