Fenway Sports Group have long signalled their intent to add another football club to their portfolio and they are reportedly exploring a deal for Spanish second-tier side Malaga.
When Michael Edwards returned to work for FSG a year ago, it was with a remit to acquire a second club and that has yet to be realised.
There was an attempt to buy Bordeaux but Liverpool’s owners ultimately pulled out of any deal, and since then there have been few updates on any progress.
The Athletic‘s David Ornstein has now offered just that, reporting that FSG are “exploring” a deal to purchase Malaga, who are currently 15th in the second tier of Spanish football.
A delegation is said to have visited their facilities in February “to evaluate a potential acquisition,” with their “focus on the stake of majority shareholder Sheikh Abdullah Al Thani.”
MANCHESTER, ENGLAND - Sunday, March 17, 2024: Liverpool's (L-R) chief executive officer of football for Fenway Sports Group Michael Edwards, club secretary Danny Stanway , Ian Rush, non-executive director Kenny Dalglish during the FA Cup Quarter-Final match between Manchester United FC and Liverpool FC at Old Trafford. (Photo by David Rawcliffe/Propaganda)
Much like Bordeaux, the club is in financial strife having been in administration since 2019 and this appeals to FSG’s desire to acquire a club with “strong traditions and growth potential.”
They are not the only interested suitors, though, as PSG’s owners Qatar Sports Investments are, as per ESPN, described as being in the process of “finalising the purchase” of Malaga.
It is reported that discussions are being held over an agreement of £83 million, which will certainly be watched closely by Edwards and Liverpool’s owners.
Thus, how serious the exploration into Malaga is remains unclear as Ornstein adds that FSG appear to be “exploring multiple options” having made visits to a handful of Spanish clubs over the last year.
Levante, Elche, Espanyol, Getafe and Valladolid are name-checked as clubs Liverpool’s owners have conducted due diligence over, while the French market is also of interest.
The process of acquiring a second club is not straightforward, as seen with Bordeaux, and FSG are intent on finding the right fit rather than rushing to add to their portfolio.
It is not hard to see why there is interest in Malaga, with the size of the city and a historically impressive academy, but that will not stop critics of the multi-club model, understandably.
If and when Liverpool have a sister club, it will be overseen by Edwards along with FSG’s technical director Julian Ward and director of football development Pedro Marques.