The US owner of Liverpool FC said the club will not be sold, capping three months of exploring options for the English Premier League team amid a tumultuous market for professional sports teams.
John Henry, who also owns baseball’s Boston Red Sox and ice hockey’s Pittsburgh Penguins, said that his company, Fenway Sports Group, was still considering new investment for the club though he does not anticipate owning it indefinitely.
“Will we be in England forever? No. Are we selling LFC? No. Are [we] talking with investors about LFC? Yes. Will something happen there? I believe so, but it won’t be a sale,” Henry told the Boston Sports Journal on Sunday.
The decision not to sell comes amid a flurry of takeover interest in other prestige English clubs, including the high-stakes bidding process for Manchester United and a prospective takeover offer for Tottenham Hotspur. Both, if sold, would be expected to fetch record prices for a Premier League club or even among professional sports teams worldwide.
Last year’s $4.6bn purchase of the US National Football League’s Denver Broncos is the most expensive team sale on record, while the £2.5bn purchase of Chelsea FC last spring is the current benchmark for the Premier League.
Fenway Sports Group has been adding to its US portfolio with its deal for the Penguins in 2021, and the group is interested in acquiring a National Basketball Association franchise, according to people familiar with the matter. In recent weeks, basketball superstar LeBron James, who has a minority stake in Fenway, has been in talks to increase his stake in the group.
Henry is not alone in calling off an outright sale of a sports club. Last month, the owner of baseball’s Los Angeles Angels, Arte Moreno, said he would retain ownership of the team after exploring options for the club.
Owners of baseball teams are increasingly spending lavishly to attract and retain top players, driven in part by the purchase of the New York Mets in 2020 by hedge fund manager Steve Cohen.
Since taking the reins, the Mets have jumped from fourth to first in payroll in Major League Baseball, and are on track to spend nearly $100mn in luxury tax alone for the 2023 season, according to data from Spotrac.
Henry has faced criticism from fans for not keeping pace. The Red Sox have dropped from fourth place to 14th place in MLB payrolls since 2020. Regarding the delicate and at times contentious balance between owners and the powerful baseball players’ union, he told the Boston Sports Journal that “the system needs change. Competitive balance continues to be a huge issue for clubs.”
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