Liverpool contract twist may trigger Saudi part-takeover as Mohamed Salah could take stake in club

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Even with Liverpool in poll position for only a second Premier League title in 35 years, Mohamed Salah’s contract psychodrama is threatening to be the story of the season.

The Egyptian King is coming to the end of the three-year deal he signed in 2022 and, as of 1 January, is free to negotiate terms with overseas clubs for a pre-contract move.

Regardless of whether Arne Slot’s side go on to claim the Premier League crown, it would be a sad end to his remarkable Liverpool career if he was to move on a free, spiting owners Fenway Sports Group (FSG).

In what is becoming increasingly clear is a scenario right out of agent Ramy Abbas Issa’s playbook, Salah’s contract drama is largely being played out in public.

The 33-year-old has used social media to generate noise and further his case for a new deal on his terms – just ask Liverpool legend Jamie Carragher, who Salah cheekily accused of being “obsessed” with him.

The attacker has also been obliging when asked about his situation in interviews, saying that, as things stand, this is set to be his final season at Anfield.

At present, Salah’s weekly wage is believed to be between £300,000 and £350,000 per week, although the breakdown between fixed and variable pay, as well as stipulations around image rights, is not known.

Contractual nuances aside, he is worth every penny.

Though he didn’t get on the scoresheet in Tuesday evening’s throwback 1-1 draw with 3rd-place Nottingham Forest, Salah has bagged 21 times this season.

Failing a nosedive in form, he will overtake Gordon Hodgson in Liverpool’s all-time goalscoring ranks before the end of the season, after which only Ian Rush and Roger Hunt will have netted more in red.

His numbers are, in the local slang, boss. For bedrock Liverpool fans, it is baffling that FSG aren’t giving Salah a blank check.

But even if the Boston-headquartered firm, who are known for their quiet and conservative approach to recruitment and retention, wanted to match the deal Salah could get elsewhere, could they afford to?

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Mohamed Salah offered Lionel Messi-style stake in club

With his various sponsorship deals and investments, Salah earns almost £1m per week before tax.

However, that mind-bending figure will be utterly dwarfed if he moves to the Saudi Pro League in the summer, where his signature is being courted by several clubs.

As reported by TBR Football’s chief correspondent Graeme Bailey, the Saudis are ready to offer Salah a deal on par with Cristiano Ronaldo’s contract with Al-Nassr, which is worth more than £150m annually.

Salah could also be offered the role of tourism ambassador for Saudi Arabia, where the forward would also not pay income tax.

Perhaps most significantly, the player may also be tempted by the promise of acquiring equity in whichever club he chooses.

Like Lionel Messi’s arrangement with Inter Miami, this would likely come in the form of the option to take a stake at a set price after he hangs up his boots.

For Salah, whose cultural influence in the Arab world is virtually unprecedented, this would provide a foothold in football finance – where the real money is made – that would pay off long after he retires.

If the Pro League fulfils its ambitions ahead of the 2034 World Cup, selling that stake could be the ultimate nest egg for Salah, who could conceivably become one of football’s first billionaires as a result.

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How much can FSG afford to offer Salah?

If Salah does sign a £175m deal in Saudi Arabia, that will equate to over half of Liverpool’s total wage bill.

It would also be worth more than, say, Everton have ever earned from every revenue stream across a single season.

They are dizzying numbers and ones that FSG, whose emphasis has always been on value and return on investment, would never match.

But how much could they pay Salah, who is believed to still be pressing for a three-year deal but is open to a shorter arrangement?

PSR is a non-issue for them. They have around £184m worth of headroom based on the most recent accounts and reliable projections from experts.

But FSG’s emphasis on sustainability means they will not bankroll major losses, so any step-up in the wage structure would need to be fully accounted for with increased revenue across the business.

Turnover will increase past the £600m mark this season and potential well beyond with a decent Champions League run.

The potential exits of Trent Alexander-Arnold and Virgil van Dijk meanwhile, while disastrous from a footballing point of view, would free up another £30m per year.

And with a new deal with Adidas worth an extra £30m annually set to kick in from the start of next season, there is no doubt that FSG have the flex to meet and surpass Salah’s demands.

FSG’s thoughts, however, will be on the precedent that bowing to a superstar’s demands in such a high-profile stand-off would set in future negotiations, and the impact that would have on their future bottom line.