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The commitment to buying a second club was key to Michael Edwards’ decision to accept the role of FSG CEO of football two years ago. A look at why it hasn’t happened and what it means for the future. #LFC nytimes.com/athletic/71250…

[🟢] SUMMARY | Inside FSG’s decision to shelve plans to buy another football club from the @TheAthleticFC: • When Michael Edwards returned to FSG as CEO of football, a key factor was their commitment to expanding into a multi-club model, which he believed was necessary to “remain competitive”. • Two years on, that project has stalled and is now effectively dormant, with the situation understood to have frustrated Edwards. • Edwards, Julian Ward and Pedro Marques travelled across Europe assessing opportunities and carrying out detailed groundwork. • Around 25 clubs were analysed, mainly in Spain, Portugal and France, but no proposal was approved by the FSG board. • Talks advanced on four occasions, with Bordeaux, Malaga, Getafe and Monaco all seriously considered. • Bordeaux was rejected due to financial issues and stadium complications, while Malaga proved too complex due to administration and legal disputes. • Getafe was explored after a reduced valuation, but concerns over revenue and La Liga restrictions ended interest. • FSG also considered a minority stake in Monaco, but uncertainty over UEFA multi-club ownership rules prevented progress. • A major concern was the risk of two clubs under the same ownership being unable to compete in the same European competition. • FSG were unwilling to pursue deals that would require them to reduce control or relinquish “decisive influence”. • The model was seen as important after Brexit limited the ability to sign overseas players under 18. • Although the groundwork is complete, there are no current plans to move forward with an acquisition. • This leaves uncertainty around Edwards’ long-term future, given the project was a key reason for his return. nytimes.com/athletic/71250…