Liverpool’s Potential Malaga Takeover: A New Era of Multi-Club Ownership?

FSG Eyes Expansion Amid Liverpool’s Success

Liverpool’s American owners, Fenway Sports Group (FSG), have long been exploring ways to extend their football empire. With clubs like Manchester City and Chelsea already operating within multi-club structures, FSG is now evaluating a similar approach—starting with Spanish side Malaga CF.

The move comes as Liverpool continue to compete at the highest level under new manager Arne Slot, who is looking to bring back the Premier League title to Anfield. However, off the pitch, the club’s leadership is focused on a strategic acquisition that could shape the club’s long-term future.

Why Malaga? A Sleeping Giant in Spanish Football

Reports indicate that FSG has engaged in discussions with multiple Spanish clubs, including Levante, Elche, Espanyol, Getafe, and Real Valladolid. However, Malaga appears to be their primary target.

Once a Champions League quarter-finalist in the 2012/13 season under Manuel Pellegrini, Malaga has suffered financial turmoil in recent years. Relegated to Spain’s third tier before earning promotion last season, the club has been in administration since 2019.

FSG is assessing whether to acquire a controlling stake from majority shareholder Sheikh Abdullah Al Thani, but the situation is complex. Additionally, Paris Saint-Germain’s owners, Qatar Sports Investments (QSI), are reportedly ahead in negotiations, making Liverpool’s pursuit more challenging.

Liverpool’s Multi-Club Ambitions

Unlike City Football Group or Chelsea’s BlueCo, FSG has not yet expanded into football beyond Liverpool. Their portfolio includes Major League Baseball’s Boston Red Sox, the NHL’s Pittsburgh Penguins, and NASCAR’s RFK Racing. However, the return of Michael Edwards as CEO of football operations signals a shift in strategy.

“To remain competitive, investment and expansion of the football portfolio is necessary,” Edwards said in a statement. While Liverpool previously considered investing in South American clubs, their first step into multi-club ownership is likely to be in Europe.

UEFA Rules and the Growing Trend of Multi-Club Models

Multi-club ownership has faced criticism, but UEFA recently relaxed regulations, allowing clubs under common ownership to compete in the same tournament. The number of clubs operating within this model has skyrocketed—from just 40 in 2012 to nearly 200 in 2024.

While skeptics argue that such structures undermine football’s integrity, the benefits are clear. Multi-club ownership allows for centralized scouting, streamlined player development, and better financial management.

What Would a Malaga Acquisition Mean for Liverpool?

If Liverpool succeeds in acquiring Malaga, the club could serve as a key development hub for young talents. Players could gain valuable experience in Spain before making the leap to the Premier League. Additionally, Malaga’s potential return to La Liga would further strengthen Liverpool’s global brand.

With European football increasingly favoring large, interconnected club networks, FSG’s move into the multi-club model seems inevitable. But will they outmaneuver PSG in the race for Malaga?

What do you think—would Liverpool benefit from owning a Spanish club, or should they focus solely on their Premier League ambitions?