FSG pulled out all the stops during a sweeping summer transfer window, handing Arne Slot a range of world-class quality after the Liverpool head coach had delivered a Premier League title in his first year at the helm.
The crowning market achievement was the signature of Alexander Isak, whose exploits with Newcastle United over the past several years had led pundit and Magpies legend Alan Shearer to hail him as a "world-class assassin" in front of goal.
Isak, 26, joined Liverpool for a record-breaking £125m fee on transfer deadline day, but he has only scored twice in all competitions. It's been a tough term, with form and fitness levels deserting him.
The Sweden striker needs to do more, but Slot also needs to restore Liverpool's attacking balance, and he is looking to achieve this by working with sporting director Richard Hughes to sign Bournemouth's Antoine Semenyo.
The latest on Liverpool's bid for Antoine Semenyo
Semenyo is very much at the top of many Premier League clubs' Christmas shopping lists, with the Ghanaian having enjoyed his football this season, scoring seven times and assisting three strikes in the top flight.
Bournemouth's Antoine Semenyo celebrates scoring their first goal
With a £65m release clause that becomes active in less than a fortnight, Liverpool have joined by their elite rivals in scrapping for the versatile forward, who pundit Chris Waddle has called "the best winger in the country".
Transfer insider Dean Jones has remarked that "Liverpool are confident they are Semenyo's preferred location", with a January transfer increasingly likely.
This would be a statement signing, especially against the backdrop of the uncertainty around Mohamed Salah's future on Merseyside.
However, there may be another complication for FSG to deal with; a member of Liverpool's forgotten flock could be returning to the herd this winter, and his sale could help the Reds advance on the Semenyo front after such a staggering summer of spending.
Liverpool must sell star who's having a worse season than Isak
Liverpool aren't strapped for cash, and they are within line of Premier League PSR regulations, but that doesn't mean the Reds shouldn't part ways with one or two of their strips of deadwood.
Harvey Elliott would be a case in point.
Harvey Elliott celebrates for Liverpool
Last season, Elliott struggled for minutes under Slot's management, starting only two Premier League matches and with both of those appearances coming toward the end of the term.
A move away was best for both parties, especially after the £116m signing of Florian Wirtz from Bayer Leverkusen, adding to the Red ranks a new high-level playmaker.
Harvey Elliott - Liverpool Stats by Season (all comps)
Season
24/25
23/24
22/23
21/22
20/21
19/20
Stats via Transfermarkt
However, Elliott's loan move to Aston Villa has seen him fall by the wayside, with a £35m obligation to buy only lawful upon a certain number of displays, and with just five outings to his name, including a total of 97 minutes in the Premier League.
Earlier in December, Villan manager Unai Emery spoke of his desire to "get a solution" for the England U21 star, who has been hailed in the past for possessing "bits of magic on the ball" by former Liverpool U18s head coach Neil Critchley.
FFC in-text wider Elliott
Indeed, even amid his struggles for Liverpool and now Aston Villa, Elliott ranks among the top 3% of positional peers across Europe's top five leagues over the past year for passes attempted and the top 1% for progressive passes per 90, as per FBref.
A pass is considered progressive if the distance between the starting point and the next touch is at least 10 meters closer to the opponent's goal or any completed pass into the penalty area.
Emery's insinuation that he will be shipped back to Anfield this January suggests that he should be sold forthwith. There is no place for Elliott in Slot's squad.
By cashing in, Liverpool could free up room and financial space to sign Semenyo, something that would only raise the bar.
Will all these variables shift in a way that plays to Liverpool's favour? We don't know, but it is clear that Elliott needs to leave Liverpool on a permanent deal to an outfit that will appreciate his 'magical' craftsmanship.
Liverpool's Dominik Szoboszlai Related
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Liverpool are getting ready to add to their ranks in the January transfer window.