Liverpool and FSG are at a delicate point in their relationship. Clearly, expectations are sky-high as the owners try to navigate a pivotal summer of rebuilding, with another season outside of the Champions League places not palatable.
With three weeks to go until the transfer window closes, and on the brink of the new Premier League season, things could very much go either way. While Liverpool has made two shrewd midfield additions in the form of deals for Alexis Mac Allister and Dominik Szoboszlai, those have been accompanied by a raft of departures.
In particular, the sale of Fabinho has left a gaping hole in defensive midfield. And while there is a sense that Liverpool will ultimately fill that gap before the transfer deadline, there is a chance for FSG to go above and beyond the bare minimum, investing further in midfield and defense to ensure Jürgen Klopp has the depth to genuinely compete.
Goings-on at other FSG franchises do not always paint the most hopeful picture for Liverpool, with the Boston Red Sox currently in what has been described as a ‘post-deadline drop-off’ as it chases down a playoff spot without significant reinforcements to the roster. But there has been great success for John Henry’s NASCAR team recently.
We’ve got you covered as you try to keep up with all things FSG.
FSG wants new team
FSG remains in ‘growth mode’, according to its CFO Julie Swinehart. Speaking to Bloomberg, she confirmed that adding a new team to the stable is firmly on the agenda.
Swinehart referenced managing the FSG finances “so that we can go and seek out that new team, in an existing league, or perhaps dive into a new venture in a new type of sport.”
FSG has recently become a founding team owner in TGL, a new virtual golf league created by Tiger Woods and Rory McIlroy, but it seems the plans may not stop there. The Liverpool owners currently also boast the Boston Red Sox, Pittsburgh Penguins and a share in RFK Racing on the ownership roster.
Liverpool.com says: As long as FSG retains a stable of truly competitive teams, Liverpool will not mind how many more franchises are on the owners’ books. But Henry and co. must be wary of spreading themselves too thinly.
That being said, cross-sport interests can sometimes help all of the teams involved. That was apparent last season when FSG minority owner and basketball legend LeBron James collaborated with Liverpool, to great commercial success.
Liverpool investment update
It’s been a fruitful summer for interviews from typically quiet FSG executives. Recently, The Athletic secured a conversation with Liverpool CEO Billy Hogan.
Naturally, the search for investment was on the agenda. Liverpool was briefly ‘up for sale’ last season, but that quickly became a hunt for new investors, and all has been quiet on that front for some time.
Hogan remained somewhat tight-lipped — although he was much less reticent on a range of other topics, from Taylor Swift coming to Anfield to the stadium redevelopment project. Speaking about the investment, he provided a three-word update: “Those conversations continue.”
Liverpool.com says: These behind-the-scenes discussions are always likely to be private up to a point, with interest typically only becoming public knowledge at a pretty advanced stage. But there are some questions as to why no viable suitor has emerged yet.
Certainly, it’s a major contrast to the Manchester United takeover trajectory. That’s no bad thing, with the whole issue descending into farce at Old Trafford. But it would be reassuring to have a more concrete update on the investment front soon, as it becomes harder and harder for Liverpool to remain truly competitive.
Double NASCAR victory
Roush Fenway Keselowski Racing tends to be the one that gets overlooked when combing through FSG assets. But the part-owned NASCAR team deserves a share of the spotlight this week, having engineered back-to-back race wins.
Both were claimed by Chris Buescher, who is now guaranteed a spot in the 16-driver playoff. In a fascinating setup, his fellow driver Brad Keselowski is also a co-owner of the team — and he was also in the mix for both races, earning sixth and fourth-placed finishes that keep him in playoff contention.
Liverpool.com says: With Liverpool still looking for investment, perhaps FSG’s NASCAR team should get more attention. After all, it is the big example of a franchise where Henry is joined by other major partners, and it is starting to enjoy some real success.
It’s also interesting to note the partnership with Keselowski. While it could just be coincidence, that’s two veteran sportspeople FSG works with, factoring in LeBron James as well. Maybe a Liverpool star could one day be welcomed into the boardroom?
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
