Could Fenway Sports Group Be Preparing to Sell Liverpool Football Club?

The contracts of Michael Edwards (Fenway Sports Group's CEO of Football) and Richard Hughes (Liverpool FC's Sporting Director) both expire at the end of the 2026/27 season.  Are these in-sync contract expiries a coincidence, or do they point to something else?

Some have speculated that it could indicate an ever-nearing sale of the club. I tend to agree, but not on this 'evidence' alone.

Expiring contracts can be put down to mismanagement, poor planning, and other mistakes. They aren't something that can be taken as the primary reasoning behind any belief that a sale of Liverpool is either inevitable or imminent. But there are other reasons to believe such is the case.

The inevitability of Liverpool's eventual sale by FSG is down to one thing above all else: return on investment. We know that FSG don't take any money out of the club, so the only way they will ever see a return is through a sale.

And what a return it would be. Having bought the club for £300 million in 2010, and with Liverpool currently valued at £4.6 billion [Forbes, 2026], a sale could see a 1,433% return on investment.

It's not just FSG seeking a return when it comes to Liverpool, however. There are minority shareholders, too; in fact, it is only the existence of these minority shareholders that allows us to put a timeline on any sale. 

In 2021, RedBird Capital took a stake in FSG itself worth £533 million, and in 2023, Dynasty Equity took a stake in Liverpool worth £164 million. Most investment groups, particularly ones making minority investments, do so under the assumption that a return will come in either the short or medium term.

Given it is now mid-2026, I would suggest we are well and truly moving towards the end of that medium term for Dynasty and RedBird. Taking this with the expiring contracts of FSG's most important men at LFC, one might start to believe that a sale could be imminent.

There is one thing that could extend, or even halt, this timeline - and that's Premier League Plus (AKA 'Premflix'). Premfilx is a Premier League direct streaming service currently being trialled in Singapore.

If this were to be adopted globally and replace the current TV broadcaster set up, Premier League clubs would be in for a windfall beyond anyone's imagination.

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The Premier League makes billions in its sale of broadcast rights, but you have to remember why broadcasters are willing to pay so much in the first place. It's because of the immense amount they profit from selling subscriptions to fans and advertising slots to businesses.

The idea of Premflix is for that money to go into PL clubs' pockets directly. If this were to happen, I believe that FSG would put the brakes on any club sale timeline - if one does indeed exist behind the scenes.

It is impossible for us to truly know FSG's plan to generate their return on investment. Conventional understanding would suggest that the club's sale is the only way, whilst the potential of Premflix means remaining in ownership of Liverpool for longer could result in a significantly larger return in the future.

The widespread adoption of Premflix could see Liverpool's value soar, as well as its income, which may then allow FSG to take money out of the club without damaging its chances on the pitch. However, it is equally plausible that Premflix either doesn't even happen or isn't financially successful if it does.

I'm sure these are some of the potential eventualities that those at the top of FSG will be weighing up in making their decision on when, and whether or not, to move forward with a sale of their most valuable asset.

Knowing that FSG aren't great lovers of risk, if I had to guess, I'd say a sale of Liverpool is closer than it may seem in the public eye.

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