Liverpool chiefs Michael Edwards and Richard Hughes are both into the final 18 months of their contracts, making this a pivotal time for Fenway Sports Group.
Eight months after their second Premier League title, this is unlikely the position Liverpool owners FSG expected to find themselves in.
But the start of 2026 brings the start of what could be another period of transition, particularly with decisions to make on the future of Arne Slot and those in the boardroom.
Slot, sporting director Hughes and CEO of football Edwards have all entered the final 18 months of their current deals, per the Times‘ Paul Joyce, and this is typically the point at which extensions are discussed.
KIRKBY, ENGLAND - Friday, July 5, 2024: Liverpool's new head coach Arne Slot (L) and Sporting Director Richard Hughes (R) are presented at a photo call at the club's AXA Training Centre. (Photo by David Rawcliffe/Propaganda)
While the expectation is that at least Hughes and Edwards will be handed new terms, this could prompt FSG into a decision over their existing structure beyond 2027.
“This apparent state of flux is not what Liverpool were expecting when spending almost £450 million six months ago,” Joyce writes.
With Liverpool effectively out of title contention the pressure will be on Slot to deliver a top-four finish after the club’s biggest-ever spend last summer.
Hughes led the recruitment drive which saw Alexander Isak, Florian Wirtz, Hugo Ekitike, Milos Kerkez, Jeremie Frimpong, Giorgi Mamardashvili and Giovanni Leoni arrive for a combined £444.5 million.
Meanwhile Edwards has an input in those matters while predominantly overseeing developments off the pitch, including the planned redevelopment of Liverpool’s academy base in collaboration with technical director Julian Ward.
LIVERPOOL, ENGLAND - Sunday, April 27, 2025: Fenway Sports Group Director of Football Michael Edwards during the FA Premier League match between Liverpool FC and Tottenham Hotspur FC at Anfield. Liverpool won 5-1 and became League Champions. (Photo by David Rawcliffe/Propaganda)
It stands to reason that FSG will look to push forward with the current boardroom in place, and the intention remains to add further clubs to their portfolio.
There is also the possibility of interest from other parties, with Edwards previously linked with roles in Saudi Arabia, albeit with Al-Hilal’s approach rejected last summer.
The contract situation certainly adds to the uncertainty over Liverpool at present, with Slot’s staff also on similar terms along with a number of key players.
Ibrahima Konate and Andy Robertson are both into their final six months, while Mo Salah, Virgil van Dijk, Alisson, Curtis Jones, Joe Gomez and Wataru Endo‘s deals all expire in 2027.
FSG therefore have big decisions to make, not only with the coaching staff and squad, but also those tasked with overseeing their progress – and the contract talks themselves.