In the football finance industry, Liverpool and FSG principal owner John Henry is considered one of the very best.
When they arrived on Merseyside, Fenway Sports Group became only the fourth Premier League club with American investors, alongside Manchester United, Arsenal and Aston Villa.
Fast-forward to 2026 and 12 teams are US-owned or co-owned. In the intervening years, FSG showed their compatriots with deep pockets that the Premier League was an ideal place to park and grow their wealth.
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The Deloitte Football Money League, released last week, shows that Liverpool have almost quadrupled their revenue since FSG bought out Tom Hicks and George Gillett.
Liverpool’s revenue is BOOMING! 🚀
Where do FSG rank among the best owners in football?
Liverpool revenue chart
Credit: Adam Williams/GRV Media/Rousing The Kop
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The Premier League’s domestic TV deal and explosion in overseas rights have been the main driver here, but commercial and matchday income – the two revenue streams under FSG’s direct control – have seen remarkable growth too.
John Henry and his FSG colleagues have exerted their considerable influence at UEFA level to ensure the financial distribution system favours them. After sealing qualification to the round-of-16 with last night’s 6-0 demolition of Qarabag, they will have collected close to £90m in prize money.
Success on the pitch in the form of two Premier League titles and a Champions League (plus two more lucrative runs to the final) have delivered the goods too.
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Unlike Manchester City, Chelsea or any other English side with sustained success in the modern era, Fenway have tasted glory without putting any money into the football side of the club. Every penny of the £450m they spent in the summer, they earned. Under FSG, the model has always been self-sufficiency.
FSG bosses John Henry and Tom Werner converse
Photo by Billie Weiss/Boston Red Sox/Getty Images
Yes, there have been some shameful lows: the European Super League, Project Big Picture, the Transfer Committee, mission creep with ticket prices.
But while supporters can justifiably question FSG’s scruples and the jury remains out on Phase Two of the Arne Slot era, the owners are, unquestionably, among the most competent in football.
And now, Henry has received a ringing endorsement from an institution he is known to respect.
John Henry wins prestigious lifetime achievement award
Henry has been investing in sports for nearly 40 years and his assets besides Liverpool include Major League Baseball’s Boston Red Sox, NASCAR’S RFK Racing and a stake in the PGA Tour.
In December, they parted company with NHL franchise Pittsburgh Penguins, generating approximately a £650m profit on the team they had owned since 2021.
Almost everything Henry has touched with FSG has turned to gold, and he has now been honoured by Sport Business Journal, who have given him their Lifetime Achievement Award.
John Henry has won SBJ’s Lifetime Achievement Award
After the European Super League plot, do you trust FSG again?
Liverpool and FSG principal owner John Henry looks on as he watches Miami Marlins v Boston Red Sox
Photo by Jaiden Tripi/Getty Images
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“I wasn’t sure it was something that was even remotely of interest to him,” FSG CEO Sam Kennedy told the industry publication when asked about Henry’s stance in the early discussions to acquire Liverpool in 2010, wherein toppling the Reds’ biggest rivals was apparently a motivating factor.
“And then, all of a sudden, he blurted out — ‘OK, we’re going to do this. But we’re only going to do this if we’re committed to overtaking Manchester United as the biggest football club in English soccer.’
“That’s what he does. He studies, he listens, and then — we’re all in.
Henry’s management style at Liverpool saluted by Kieran Maguire
In his interview with Sports Business Journal, Kennedy also praised Henry’s approach to running blue-chip sports teams at Anfield and beyond.
“John is the most collaborative owner or business person you’ve ever met,” he said. “He wants different views. Different opinions. He does not need to be the loudest voice in the room.
“It’s been 24 years and the partnership is still going strong. But I will also tell you, he’s in charge. And it’s clear. Everybody knows it. He is the ultimate authority in every way. But he doesn’t need to tell you that or remind you of that or make that clear.
“I think they have taken a portfolio approach to managing Liverpool,” University of Liverpool football finance lecturer Kieran Maguire said in exclusive conversation with Rousing The Kop, addressing Henry’s management style.
John W. Henry, Principle Owner of Liverpool and his wife Linda Pizzuti Henry pose for a photograph with the Premier League trophy, as Liverpool are crowned the Champions of the Premier League for the 2024/25 Season, following the Premier League match between Liverpool FC and Crystal Palace FC at Anfield on May 25, 2025 in Liverpool, England. (
Photo by Michael Regan/Getty Images/Getty Images For The Premier League
“They are very careful about ignoring the noise and focusing on what matters. FSG have made some huge errors, such as the backing of the Super League, ticket prices, attempts to trademark the word ‘Liverpool’. Those indicate that they might not fully understand football, but all of these issues made sense from a business perspective.
“Their decision to introduce Moneyball to Liverpool when the club had finite resources has proven to be one of the smartest things they did. They hire the right people and let them get on with things, even though it’s a lot easier to go down the route of spending money brashly and hiring and firing brashly.
“They have reaped the rewards of that in terms of the growing valuation of the club. To have that kind of success on and off the pitch simultaneously is pretty much unheard of – and that’s down to the acumen of Henry.
“Even when his partner in crime, Tom Werner, said Liverpool should be hosting matches overseas, Henry read the room and said they aren’t interested in that. They could be playing good cop, bad cop. If they are, that’s an absolute blinder.”
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