The Liverpool owner Fenway Sports Group has sold a 10 per cent stake in its business for £543 million to allow it to absorb the impact of the pandemic. Liverpool have suffered an estimated £120 million hit in lost revenues over the past year, but the deal allows the club to continue with the redevelopment of Anfield while also proceeding with their summer transfer plans to bolster Jürgen Klopp’s squad.

The agreement with the private equity firm RedBird Capital Partners does not mean a huge transfer war chest will be made available to Klopp but offers Liverpool some continuity and stability.

FSG, which has been valued at £5.33 billion, took on the financial impact of the pandemic in additional debt and borrowing against itself, rather than placing it on Liverpool and its other business interests, which include the baseball team Boston Red Sox, NASCAR team Roush Fenway Racing and US regional cable sports network NESN.

Read more/Source: The Times