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Liverpool owners FSG ‘propose’ to buy another football club

Liverpool owners Fenway Sports Group have made a ‘proposal’ to take over Brazil’s Cruzeiro, media reports in South America have revealed.

One of the most storied clubs in Brazilian club football, the club became the first Brazilian club to transition from a non-profit to an entrepreneurial organization in an effort to restructure its finances and create a ‘Sociedade Anônima’ (SA) to attract investors into the club, which was prohibited under the non-profit model that had come under pressure during the pandemic, exacerbating an already difficult financial situation.

The deal should be ratified by football authorities, although there is precedent for this to happen after Red Bull Bragantino, owned by the company that owns the likes of RB Leipzig and Red Bull Salzburg, also became an SA.

What that means is that 90 percent of the controlling SA’s shares are now available for sale and the club has sought out potential investors to buy the shares.

Former head of the ombudsman and internal audit of the structure change at Cruzeiro, Aloísio Vasconcellos, told members at the club’s general meeting that the club could get an offer from FSG.

MORE HERE.

FSG linked with purchase of Brazilian team Cruzeiro (Image: Getty)

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