Liverpool owners FSG have just lost top chief to Chelsea
Yesterday at 03:09 PM
Chelsea are continuing their recruitment drive behind the scenes and have just signed up a new executive from Liverpool owners Fenway Sports Group.
Even with a power struggle taking place behind the scenes between Todd Boehly and Behdad Eghbali at Stamford Bridge, Chelsea are still making moves.
Since the takeover by led Clearlake Capital in May 2022, Chelsea have made changes – and in some cases multiple changes – across almost every department of the club.
The shake-up has been most conspicuous in the sporting department, where they have swapped managers twice, brough in two new co-sporting directors, and spent more than £1bn on new signings.
But they been just as if not more frenetic when it comes to changes in the business side of the club.
With Chelsea operating in a PSR environment in which spending is tied to the club’s profits, the success of the restructuring will be pivotal to the future of the club on and off the pitch.
And now the West London club have now turned to FSG, Liverpool‘s Boston-based ownership, for their latest appointment.
- READ MORE: Chelsea scouting 'very important' striker who Tottenham also looked at buying over the summer
FSG executive to leave for Clearlake Capital
As relayed by City AM, Chelsea’s private equity owners Clearlake Capital are set to appoint FSG supremo David Beeston as a managing director.
It is believed that he will spend much of his time concentrating on Chelsea, where his legal experience is believed to be most needed as opposed to Clearlake’s other investments.
With more than a decade’s service for FSG, Beetson primarily focused on the groups MLB outfit Boston Red Sox, as well as the NHL side Pittsburgh Penguins.
Beetson until recently served as co-head of Fenway Sports Management, one of the group’s key subsidiaries focused on marketing.
FSG are one of the most powerful sports empires in the world and will be capable of withstanding the departure of Beetson, but the departure of such an experience figure is a blow.
Chelsea and Liverpool’s finances
Chelsea and Liverpool are two of the biggest revenue generators in European football on an annual basis more often than not.
Chelsea’s turnover in 2022-23, the last year for which financial data is available, was £513m. Liverpool’s was £59m over the same period, behind only Man City and Man United in Premier League terms.
When it comes to their PSR position, however, the two clubs could hardly be further apart.
Chelsea have posted combined losses of almost £400m over the last three financial years, although that period does cover the pandemic.
Liverpool meanwhile recorded a loss of around £20m over the same period and tend to be profitable when one zooms out on the graph.
