Liverpool fans will be furious as FSG chief explains restrained summer spending

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Billy Hogan’s thoughts on Liverpool’s financial adaptation to life outside of the Champions League is sure to invite some raised eyebrows from fans online.

The club’s chief executive admitted that, as a sustainably run outfit, the Merseysiders have had to ‘react accordingly’ to the new financial reality.

“Obviously, it creates a difference from a revenue standpoint, and we have to operate accordingly,” the FSG man told The Athletic. “Our goal is to run the club sustainably. When you are missing revenue from the Champions League, you have to react accordingly — and we’ve done that.”

Evidently, this has had an impact on the Reds’ spending in the window – a situation perhaps best epitomised by the ongoing negotiations with Southampton for Romeo Lavia.

READ MORE: ‘Thanks FSG’ – Jose Enrique snaps at Liverpool owners over potentially embarrassing mistake

READ MORE: Forget Lavia: Carragher suggests Liverpool could sign midfielder they ‘really wanted’

In the spirit of fairness, it’s worth acknowledging that Liverpool obviously don’t possess the kind of financial might of the likes of a Manchester City or Newcastle United.

That said, given how it was already clear we needed a third midfield signing – at a time when we presumed Jordan Henderson and Fabinho would be part of our 2023/24 plans – a failure to land the Belgian international at this stage, following an influx of over £50m, would be unforgivable.

If we must adapt, then we’ll adapt, though not at the cost of a genuine number six when only Stefan Bajcetic is considered a viable option.

EOTK Insider with Neil Jones: Lavia ‘complication’, Mo Salah to Saudi? Kane could do Liverpool transfer favour, Andre latest and much more!

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        1. Pretty much, and Hogan gets up there with a smirk on his face regurgitating bull shit lines. What utter horse shit what about that new TV contract which benefits PL teams? The mfers from beantown and Hogans intervention with negotiations has been a royal cluster. Well done just what JH ordered up. LFC1✅💯

      1. iys a joke they have spent only 30 million this summer with the sale of 2 players I am sure we made than 30 million past season even with out champions league

      2. FSG is just not interested in spending. Better they sell the club to the Qatar consortium before the team is depleted.

    1. They really don’t get it. FSG have only got trophies because of Klopp working miracles and the Coutinho money. Sad to say but we won’t be getting top 4 unless we go above and beyond on the pitch and ask the players for more than they have got I.e burn them out. Again.

      1. I agree 100 percent, investment would have probably gone in to there pockets anyway, it’s time to sell up, we won’t have klopp forever and we had a genuine chance to rule Europe over the last 5 seasons, if we had spent an extra 150mil, how much revenue would we have accumulated being the powerhouse of Europe, you need to back the best manager in the world simple as

      2. FSG do nothing to help us. remember, Coutinho money was used to buy Alison and Dyke. They do the minimum. The team needs a rebuild and FSG do little. Liverpool should be challenging for the premier league. We will be lucky if we get top four. FSG are embarrassing. Back Klopp

    2. we dont get into Champions League to lack of investment, now we have no investment due to not being in the champions leage. we also had little investment when in champions leagie for years. all says to me is that Billy Hogan and FSG need to get out

  1. Here we go….the media manipulation and management of expectations from America.

    Wheres the big investment then to counterbalance this scenario?
    I hope Klopp speaks up now and doesn’t appease these con men

    FSG out!

  2. Thats understandable but other clubs are not in champions leaque but are still buying players.sounds like bad management as you should have seen this coming and planned for it over the last year.invest or be a mid table team with low returns.

  3. You should know that it’s competition where by if you don’t level up you’ll go down! Sign him or any Defensive to back Thiago.
    Dont be stingy

  4. Fed up to the teeth with FSG, I am 76 years old and supported the reds since boyhood but now they have become a laughing stock in the football community. I tell FSG, back our manager or get out and sell up. Our manager is deserving more from you, It would break my heart if we lose JK but loosing FSG then I would jump with joy. Back him or get out.

  5. What about all the recent years LFC have competed in the champions league, still spend bugger all on transfers, if you haven’t got the money and want to run our club for profit year on then get lost we don’t want you as owners, move on and sell the club to the Qataris.

  6. This is not good enough for our club these Americans are making a mockery of Liverpool fc
    They need to go as it’s only going to get worse with them at the helm ( FSG OUT ) what a group of wronguns they have been to LFC

  7. What rubbish from Hogan! We’ve been in the Champions League last 5 years with hardly any investment other than from players we’ve sold. The PL has moved on as has the transfer market so keep up! The value of the club has risen from £300m to £2-3 BILLION would it hurt to invest a little of the capital in the team other than money we generate ?

  8. So we don’t improve the squad and rely on Klopp to try and work magic with what we have with the likelihood that we won’t qualify for the Champions League again and possibly not the Europa either so revenue down even further. Liverpool becomes unsustainable because of the high wages. Have FSG not heard that you need to speculate in order to accumulate. They need t sell up if they can’t cope.

    1. I actually feel sorry for Klopp but most of of all us fans. If we had been on an even spending with City and Real Madrid we would be sitting here with at least 3 Champions league wind and 3 titles. I’m not expecting oil rich money but we are being robbed.

  9. I thought last year’s winnings would be for this transfer window??? Plus the windows we never spent hardly anything was supposed to be put in to the rebuild. I have always give FSG the benefit of doubt but this is beyond a joke. We was the 3rd highest revenue football club in the world last year but now we’re skint cos we have no CL next season. Doesn’t make sense. We are not a moneyball club punching above our weight. We are Liverpool football club, 1 of the top 5 best clubs in the whole world. Think it’s time to let us go before they run us in to the ground because the market has changed, other clubs are richer now so we will end up in the same situation as we did with Hicks and Gillette.

  10. FSG, you allowed our mid field player to run down their contracts when we had champions league football. You allowed Hendo and Fabinho to leave. Now you man you have no funds. Why did you not replace them when their contracts were still valid. If I had not renewed my membership, I would have not renewed it knowing what I do now. You are a disgrace, really.

  11. All fsg wontis money all they care about is the American team they own get a lot of money we the liverpool supporters think money to spend nothing they should give klopp what he needs but they don’t should of got the sheik in when they wanterd to buy it FSG out now

  12. Lying bollox…how many seasons did we go all the way in champions league and we still didn’t have the money to invest..hence we are out of CL

    1. All Americans are the same all they want is to make a profit to line their own pockets they don’t care about the fans, just look at what the Glazers are doing to a certain other team just down the road…take..take..take

  13. It was this kind of thinking and lack of investment that means we missed out on Champions League last season! Continue like this and we will end up without Klopp and back where we were under Hodgson….

  14. Get these parasites out of the Club now! FSG have the best manager in the world and they undermine him in the transfer market every season and then expect him to work miracles. Enough is enough FSG OUT!!!!

  15. what about all the money the club has accumulated over the last five years? The net spend on transfers is really low

  16. Klopp too is a culprit to that. Why is he quiet, ruining his reputation. FSG is a joke. They won championship (EPL), champions league, FA cup, League cup and TV revenue but they fail to invest on players. They promised to buy Jude Bellingham but they failed and was no proper response. Now they are failing to fork out £50 million for Lavia yet they sold Fabinho and Henderson for a combined £52 million. Liverpool is a joke. FSG has a made Liverpool a cash cow for their projects in the USA. Billy Hogan too does not understand finances properly when he says failing to qualify for champions league they have to adjust yet they have projected to qualify for champions league at the end of the season. They have money, they fail to invest on human capital and they fail to qualify they also complain of finances.
    FSG must sell the club to capable people and who have the heart to succeed and see fans happy.

  17. FSG are still treating the club like a business, which cannot be done
    They are fully aware of the age of the squad and the numbers leaving yet they still expect CL football next season? This is h tree latest excuse after years of not recruiting in successive transfer windows
    It’s no wonder Klopp wants to leave

  18. Liverpool should have forgotten about Lavia weeks ago when they heard of Southhamptons ridiculous fee of 50million pounds.Whats even worse is wasting precious time in trying to negotiate a fee which the Saints rejected everytime.Why not go in for Leeds Tyler Adams valued at 35million pounds.He is a quality defensive midfielder and Liverpool would still have CHANGE left over. Real stupid in going in for one player when there are other players available.Dont let me start on those cheepskate owners FSG IDIOTS.Jusy my 6pence

  19. So we knew that there were significant numbers leaving the club at the end of their contracts, and we only ever planned to replace two of these, (with the two current summer signings). We then grab the money for Hendo and Fab (unplanned sales) and reduce our midfield capacity even further even though we never had to (they were both still in contract). Now there is no money to strengthen the squad.
    Just what are they smoking over in Boston !!!

  20. Lack of investment led to Liverpool not qualifying for the CL in the first place. If FSG had invested in the ageing squad we would have qualified – that is what sustainability is. Last year the excuse was they were setting money aside for Bellingham. Guess what he’s gone to RM so where is the £100m plus they set aside? FSG always pretend they are going for world class players and end up buying on the cheap. Time to sell up and move on.

  21. From being the best in recruitment we have become the worst !
    Less revenue is due to not qualifying for UCL – due to the FACT no money was psent on the midfield last year

    Always the next window

    We are an embarrassment

  22. Now it’s clear this FSG lot will never speculate to accumulate. They will never put their own money into this great club.
    Never thought I’d say this, granted the Glazers take money out of UTD, but they back every single manager with transfer funds.
    We on the other hand have only ever done that once (VVD and Alison) and even that out of the Coutinho sale.
    This FSG have made their money (3billion +) time to ship out as they are being seen for what they are which is only one notch up from Gillet and Hicks.
    Liverpool fans need to wake up…they don’t care if we can’t compete. We will end up like Spurs. Nice shiny stadium with an average team at best. Klopp will leave at the end of season. They never back him. No wonder he said ‘They need to take more risks in the transfer market’.

  23. We are out of CL because FSG did not invest when we were in CL! What was their excuse then? Had they invested in previous years [when sale proceeds were more than incomings] we would have been in CL today. They have enough money to buy new sports “assets”. LFC is a secure asset. It’s gone up in value more than 10 times since they bought it.
    Unless supporters start a strong FSG out campaign from the very first game against Chelsea, make FSG big guns feel unwelcome whenever they turn up at Anfield and tell them to get lost, we will remain hostage to the blood sucking owners. If you can’t compete, then sell to someone who can. The club belongs to us who pay ticket money and TV subscriptions every week despite financial hardships, not to those who are in only to accumulate their wealth at our expense.
    Right now, LFC is at the bottom of the table in signing new players. FSG have turned out to be an absolute disgrace.

  24. FSG are becoming increasingly disappointing by the day. If they aren’t ready to spend and invest appropriately in the club then they need to move on and sell the club before they ruin it further. It is absolutely clear the can’t complete with the Europe’s might and ever disappointing Klopp. It’s a shame.

  25. This statement would only make sense if we had not sold a player. LFC have gained from selling two midfield players, unexpectedly.
    The numbers in midfield are now a concern.
    If we want to challenge for a top four place, to get the sustainable finances back on track, we have to invest where necessary. A proven Central Midfielder is necessary.

  26. Not to mention close to £1 mill per week off the wage bill
    Also wages are structured on performance so wages dip thus season due to no UCL

    Thwy are taking the p155 and need to go

  27. I believe this will be the last season for Klopp following this debacle as even he will see the writing on the wall from FSG.
    They are little interested in football solely in the profits from marketing goods and advertising ; that will soon be dropping.
    I am hoping we enjoy our dip into Europe this season as I see it as the last for years to come.

  28. Why all this negativity? We just need Bellingham, next window and it’ll be solved. Don’t spend so we can buy our treasured talisman and all will be forgiven.
    PS I’ve been asleep since 2021, lol. This is going to be another disastrous season-wait for vD, especially Konate injuries and we have more 0-3 vs Brighton, 0-1 Forest again.

  29. For a long time I have not said anything about FSG, but in order to make money NOW, we should have invested for the last 2 seasons. To make money going forward, we need to invest in players now and that is the risk of business.
    Buy Caicedo, spend the 100 mill and get it done. Get Schuurs and Inácio. The money will be recouped over the next 5 years. AND we will have a team built for now and the future.

  30. These ‘so called clever money men’ obviously don’t know how these things work – you have to speculate to accumulate!
    Where has the £50 million + from Henderson and Fabinho gone? Into FSGs coffers? .Never to be seen for LFC again?
    I can see Jurgen Klopp going to pastures new at the end of this season as he looked so frustrated during the last one. Unless there is some last minute major spending soon we are going to be struggling again.

  31. Well if that’s the case and fsg excuse..? Can u explain why after we won the champions league why we never spent on players… we put loans on Anfield…Will u print out our net spend on 2019 and 2020 show where all that money has gone…the tv right from prem and the nike deal… show the fans where the money has gone this is the first time in years no champions league and that’s your excuse for fsg running away with the club money to buy and support hockey and baseball teams…time to sell up and go…!!!

  32. This saga is becoming embarrassing. We have in the past managed to get a number of players from Southampton, so we should by now have a good understanding of how they as a club work regarding transfers. There is less than a week before the season starts and we are still messing about after letting the majority of our midfield leave…poor….poor planning, not forgetting we also need to sort out the defence, which has continued on from last season to be poor. Currently, we are looking at 6th or 7th place with no CL so finances will drop even further so no investment…god i feel like were going round in circles. I reckon by the end of the season, Klopp will go, FSG will eventually sell and leave us in the Sh.t.

  33. FSG – Fucking Shit Group!
    Klopp should really consider his future, with bosses like this …sad to say they’ll kill you reputation as to who you really are and what you are capable of. In advance thank you for all you have done this past 7yrs , all kop fans knows you deserve better bosses. Cheers mate!

  34. Unfortunately as Great as Klopp has been for Turning average Players into Superstars over the past few years we need a Rapid Centre Half , a Full Back and a defensive Midfielder , especially if we keep playing the high Line we are in for a Shock.
    Then FSG might take Notice when their Share value in LFC Drops and worldwide Shirt sales fall away and put their hand in their Pocket and Support him.

  35. Fsg needs to sell up..there model is done…Klopps success is only down to him,the tools he got from fsg is minimal…if it wasnt for coutinho money,we would never have seen that spending. The lack of champ league,is no excuse,when we won champ league or league,there wasnt much spending.Its a lie,chelsea has no european football but continue to spend.FSG out.

  36. All LFC fans knew this time last year we needed to strengthen the midfield, that wasn’t done. Tchouameni, Bellingham. OUT of CL. 8 players leave on top of this replaced with 2, and then they come up with this bollox. They have never spent on the club. We’ve been in the CL for the last few years what was there excuse then. The problem with the Yanks us they think we are as thick as them. They are Crooks like the Glazers at Utd. Need to get rid!!!

  37. From a strategic business perspective the very area we would expect FSG to excel, Liverpool are looking like absolute amateurs. Allow the most vital part of your assets, the team, diminish through lack of investment , try to sell off the club, make a mess of any form of sale then miss Champions league and can’t attract the right players. Now risk possibly losing the” golden goose “that is the main reason there has been success with comparatively few resources, Klopp!! Diabolical club management in my view.

  38. The reason for the success at Liverpool is the coach. Ig he isnt backed up then he will leave and when he leaves there will be really dire times at the club. Thats when FSG will sell up. I know it is business but this should be a business on and off the pitch too.

  39. It’s like Alice Wonderland tale. As long this fucking henry & his co fsc control Liverpool there just the dreams not come through. It’s just no hope they’re going to spend big. Just playful with rumours. Shiit

  40. We’re the football version of the Red Sox. They give us a bit of a polish in the stadium, win us a couple of trophies to give us a past glory bank of trust and then use the asset as a banker for other purchases. Typical remote owners.

  41. liverpool owners our a fucking joke,they our worst than united owners,i hope klopp walks away,he desreves better,

  42. What sort of comment is this?is Chelsea playing in Europe at all?but they are spending big.if you guys can’t invest into the team,pls walk off

  43. Liverpool are not in the champions league precisely because they didn’t invest. Now they are saying they can’t invest because they aren’t in the champions league?? Didn’t invest from a position of strength, didn’t invest in an aging team beset by injuries & now not investing in a team that is on the wane because of no investment. Obvs have other toys to play with

  44. We won the premier league we won the champions league and they still didn’t invest..What a load of crap that because we’re not in the C/L we can’t spend f off fsg you have one of the greatest coaches and showing him no respect or support..if we only invested after the CL we still be a force and winning trophies..All they care about is the end dollar in there pockets.

  45. We’ve missed the champions league because we didn’t spend on developing the squad you complete donut. You’ve got to speculate to accumulate. If we don’t spend, then we don’t win, if we don’t win, we don’t earn. Don’t sit there and talk about sustainability when you don’t seem to understand the meaning of the word.

  46. This was always on the cards, champions league revenues lost, that went into the pockets of FSG.
    The 3rd richest club making 600 million. You’ve got to laugh. We’re skint, again.
    And people thought hicks and Gillette were crooks. FSG are even worse. Clever crooks, that’s FSG.

    So cut costs to get it back. An exodus of at least 12 players gone. That’s around 72 million off the wage bill a year. With the sale of players, Henderson, fabinho, Thiago, keheller, Phillips 80 million back.
    The net spend sums up FSG charlatan owners.

    Liverpool supporters who’ve been around the last 13 years shouldn’t be surprised, FSG have always done this. It’s how they make profits.
    Only Time we spent big was because coutinho was sold for 140 million. ALISSON VAN DYKE FABINHO.

    Sadly the truth from a lifelong Liverpool fan of over 50 years can only see the club decline further without klopp. That’s the future. Klopp will be gone soon.

    The vast majority of Liverpool fans still support FSG.
    This is the saddest part.
    A small minority want FSG out. And FSG know this. Until the Anfield faithful changes course on FSG, we will continue to sink. And deserve to sink.

  47. Yeah they are shit scared of what that loony Biden will do regarding taxes for big companies in the states?

  48. “times up for these loser owners,yes they’ve improved the stadium training ground etc but they’ve gone as far as they can go, it’s the product on the pitch at the end of the day

  49. But to get not the champions league you need players,if we had bought last year we may have got into the league. If you do not buy players to cover all positions then we are not going to get’s a fact of life players get injured if all you have is academy players that are not guise ready black to square one.

  50. wages off the book per year
    Firmino £9.3m
    Fabinho £9.3m
    Henderson £7.3m
    Keita £6.2m
    Oxlade-Chamberlain £6.2m
    Arther £5.7m
    Milner £3.1m
    Carvalho £2.0m

    wages on the books per year

    Mac Allister £7.8m
    Szoboszlai £6.2

    fee’s for players out
    hendo £12m
    Fab £40m

    fee’s for players in
    Szoboszlai £60m
    Mac Allister £35m

    so all in all we have spent £8m

  51. you are all moaning, but are you going to do anything about it? why are you attending the games? you are creating this mess yourself.

  52. The issue is FSG like Hicks & Gillett before them are only interested in the typical US way of making money. For all their social initiatives intent is to further increase the fan base to sell tickets and merchandise. Performance is secondary. Every season they make one or two player purchases to shut down criticism. But every season player sales subsidise those purchases to minimise spend and leave ever greater profits for shareholders. That is the US business model minimal investment for maximum profit. If success on the pitch brings more revenue great if not it makes no odds as FSG simply cutback on costs. The success we have had is entirely down to the skill of Klopp and his coaches and the players who responded to his methods. It has nothing to do with FSG though they gloat about it in the corporate world. When Klopp goes FSG will sell up not before.

  53. They need to spend more now we’re not in the Champions League to make sure we qualify next year. Otherwise, what they’re telling is us is that we’re now a second tier club and we supporters have to adjust our mentality and accept this. This is the owners fault for neglecting our squad year after year and never investing their own money in our playing staff. Rip the seats out of the new Annie Rd stand and throw them onto the pitch. Make it clear they’re not welcome in the stadium. We need to do it now before the permanent damage is done. If Klopp is forced to leave who is there to step into his shoes? Nobody. FSG OUT!!!!

  54. ”In the spirit of fairness, it’s worth acknowledging that Liverpool obviously don’t possess the kind of financial might of the likes of a Manchester City or Newcastle United.”

    what a bs……. arsenal??? manchester united???? even spurs spend more!!!!!

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