Fenway Sports Group’s search for a second soccer club to run alongside Liverpool had “only ever previously been explorative,” but now there is a “commitment to create a stable,” according to Philip Buckingham of THE ATHLETIC. UEFA has calculated that 230 clubs worldwide were "part of a multi-club investment structure by the end of 2023, compared to less than 40 in 2012.” Liverpool is “late to join the rush,” but the next 12 months are "expected to see a multi-club operation begin" under FSG CEO/Football Michael Edwards’ watch. The "most likely first dance" will "come with a European partner.” A European affiliate club “offers the opportunity for Premier League clubs to develop emerging talent at a competitive level.” Belgium and France have “attracted most Premier League owners." Portugal will have an "obvious appeal for Liverpool,” who is "already coveting Benfica’s technical director Pedro Marques to join a reshaped operation this summer.” If Portugal, France and Belgium are considered the “most likely starting points for FSG’s European expansion, the next consideration is the size of club that will be targeted.” The biggest clubs in a domestic league are "not pursued owing to the financial commitments required purchasing and operating them," but "neither are the minnows." There has to be "some certainty that an affiliate club offers the chance for players to compete at the best possible level." FSG will "not want a loss-making club in its stable, no matter the benefits it might offer Liverpool." The aim will be to "find a new club capable of washing its own face financially" (THE ATHLETIC, 3/25).
