caughtoffside
·29 March 2025
Liverpool’s FSG set their sights on Spanish club as they enter race against PSG owners

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·29 March 2025
Liverpool’s owners Fenway Sports Group (FSG) are reportedly eyeing a 51% stake in Spanish second-tier club Malaga – who are also liked by Paris Saint-Germain’s owners, Qatar Sports Investments (QSI).
Since taking over Liverpool in 2010 from Tom Hicks and George Gillett, FSG have overseen a period of success, including Champions League and Premier League triumphs. Now, with the Reds on track to secure yet another Premier League title, FSG are looking to expand their football portfolio, with Malaga being their latest target.
According to a report from The Athletic, FSG’s initial plan is to acquire the 51% stake currently held by Sheikh Abdullah Al Thani, the club’s majority shareholder. In February, a group from FSG visited Malaga’s facilities to assess the viability of a potential deal.
This interest in Malaga comes at a time when QSI, the investment arm behind PSG, are also pushing for control of the Spanish club. They already own the majority of PSG and hold a 20% share in Portuguese side Braga.
ESPN recently reported that QSI are close to finalising a deal to purchase 100% of Malaga, including Al Thani’s stake and the remaining 49% held by the Bluejay Group. Talks are said to be “advancing well,” with QSI reportedly keen on the club’s significant potential.
FSG are clearly aware of these attractions and are determined not to let QSI get the upper hand. The American group appears to be exploring their options with the Spanish club, though it remains unclear how close they are to securing a deal.
Despite the excitement surrounding FSG’s ambitions, there has been some backlash among Liverpool supporters who question the timing of their interest in Malaga.
Liverpool right-back Trent Alexander-Arnold is likely to move to Real Madrid (Photo by Stu Forster/Getty Images)
With key players like Trent Alexander-Arnold, Mohamed Salah, and Virgil van Dijk’s contracts hanging in the balance, some feel it may not sit well for the ownership to pursue other investments while these critical negotiations are ongoing.
Alexander-Arnold, in particular, looks almost certain to follow Kylian Mbappe last year and join Real Madrid on a free transfer.
The saga surrounding FSG’s potential purchase of Malaga will likely unfold in the coming months, but it’s clear that the Liverpool owners are looking to make their mark on Spanish football, setting the stage for a battle with PSG’s QSI.