Fenway Sports Group (FSG), owners of Liverpool FC, have ended their £115million pursuit of Getafe CF, drawing a line under months of negotiations with club president Angel Torres.
FSG have been exploring opportunities to expand their football portfolio since the return of Michael Edwards in March 2024, and had been in discussions with Getafe surrounding a takeover since the early summer.
Discussions appeared to be positive between the two parties, with FSG sending representatives to Spain to carry out due diligence and review the club’s financial records.
However, talks broke down, with reports indicating FSG withdrew from the process due to the scale of the financial commitment required for the takeover.
Finances hurdles too high for FSG
The club’s price tag, combined with La Liga’s strict financial regulations, proved decisive in FSG’s decision to walk away.
Getafe, who currently sit eighth in La Liga, also have one of the oldest squads in the division, with an average age of 27.6 – behind only Real Oviedo and Rayo Vallecano.
Such an ageing squad would require significant reinvestment to maintain competitiveness, adding further cost to any takeover plans.
Although FSG have stepped back from Getafe specifically, their interest in Spanish football remains.
The group has also been linked with other Spanish clubs, including Levante, Elche FC, Espanyol and Real Valladolid.
If the right opportunity arises that aligns with their goals and ideals, then FSG will be sure to strike a deal for a Spanish club if it suits them.
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The search for a second club continues
It is no secret that it is FSG’s ambition to add a second club to their football operations.
The group were linked with Bordeaux and Malaga earlier this year, but both were ultimately assessed as too risky.
The drive for expansion was sparked by Michael Edwards’ surprise return to FSG last year.
Upon being appointed CEO of Football within the group, part of Edwards’ remit was to spearhead the creation of a multi-club model.
“One of the biggest factors in my decision is the commitment to acquire and oversee an additional club,” Edwards said in his official statement upon return.
“I believe that to remain competitive, investment and expansion of the current football portfolio is necessary.”
So far, Edwards and FSG have taken a notably cautious approach, prioritising long-term stability over big-name acquisitions that may carry hidden financial or sporting risks.
Multi-club models becoming the new normal in football
Multi-club models (MCM) have surged across modern football as ownership groups seek new avenues for profit, talent development and competitive advantage.
Recent examples include the City Football Group (Manchester City, Girona, Troyes and others), BlueCo’s ownership of Chelsea and Strasbourg, and Brighton’s links to Union Saint-Gilloise and Hearts through Tony Bloom’s network.
These structures offer access to broader talent pools – often in emerging football markets – while giving the parent club priority over standout prospects.
But they also generate controversy, with critics arguing smaller clubs risk becoming feeder teams whose ambitions are limited by their role in the MCM hierarchy, ruining the experience for supporters of said clubs.
Supporters of the model counter that such clubs often face ceilings regardless, and that joining an MCM brings improved investment, infrastructure and player quality.
Liverpool appear increasingly likely to join the growling list of elite sides operating within a mulit-club ecosystem.
For now, FSG remain selective, seeking not just any club, but a club that aligns with their long-term football strategy.
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SportJustSport writers