Liverpool FC owners bid to buy another football club
Liverpool’s owners Fenway have made an “offer” to buy Brazilian side Cruzeiro, according to South American media reports.
The club, one of the most famous clubs in Brazilian football, became the first Brazilian club to move from a non-profit entity to a corporate entity in an effort to restructure its finances, forming “Sociedade Anônima” (SA) to attract investors to the club, which was forbidden under the non-profit model. The profiteer has come under pressure during the pandemic, exacerbating an already difficult financial situation.
The deal must be ratified by the football authorities, although there is precedent for this after Red Bull Bragantino, owned by the company that owns RB Leipzig and Red Bull Salzburg, among others, became SA as well.
What that means is that 90 per cent of the controlling SA’s shares are now available for sale and the club has been looking for potential investors to buy the shares.
On Friday, the former ombudsman and internal audit supervisor for the change of structure in Cruzeiro, Aloysio Vasconcelos, told members of the club’s general assembly that the club might receive an offer from the FSG.