Liverpool have sold a minority stake of up to £164 million to an investment firm, but Jurgen Klopp will not be able to splash it on transfers.
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Liverpool announce cash injectionInvestment worth up to £164mFunds will not go towards transfersWHAT HAPPENED?
Fenway Sports Group, the company that owns a majority stake in the club, has agreed to sell a minor stake to the American sports investment company, it was announced on Thursday. Dynasty, a New York-based firm, was founded last year and purchasing the stake in Liverpool is the company's first investment.
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However, the investment, said to be between £82m ($100m) and £164m ($200m), according to , will not be used to fund new transfers in the January window. FSG have stated that the cash injection will primarily help the club "pay down bank debt incurred during the Covid-19 pandemic and capital expenses made to enhance Anfield, build the AXA Training Centre, repurchase Melwood training ground and, most recently, acquisitions during the summer transfer window."
WHAT THEY SAID
The strategic partnership brings an end to FSG's year-long search for new investment and proves FSG's intent on remaining Liverpool owners after rumours of a possible sale.
FSG president Mike Gordon told the club's website: "Our long-term commitment to Liverpool remains as strong as ever. We have always said that if there is an investment partner that is right for Liverpool then we would pursue the opportunity to help ensure the club’s long-term financial resiliency and future growth.
"We look forward to building upon the long-standing relationship with Dynasty to further strengthen the club’s financial position and sustain our ambitions for continued success on and off the pitch."
Getty ImagesWHAT HAPPENS NEXT?
Klopp's team are in action again on Sunday when they take on Tottenham in the Premier League.