Liverpool investment talks are active, but Billy Hogan insists the club are still growing

"We've definitely not peaked," Billy Hogan told bbc.co.uk as he addressed the latest investment talks around Liverpool. That is the key line from an interview designed to cool the idea of retreat. FSG have confirmed talks with a consortium led by Amit Bhatia over a strategic minority investment, but Hogan's argument is that Liverpool remain a growth play, not an exit story.

Hogan has been with FSG since they purchased Liverpool for £300m in 2010, so his message carries some weight inside the club's modern ownership era. He also leaned on hard financial numbers, saying Liverpool were fifth in the Deloitte Football Money League and posted the highest revenue in the Premier League at £702m.

The message from New York

Hogan was speaking in New York ahead of Liverpool's match against Wrexham at Yankee Stadium, and he did not leave much room for misreading the ownership stance.

"Look, John Henry and FSG have always said that if there was an interest in an investment that would help the football club, then they would consider it. That was said many years ago and that remains the case here," he said.

That still leaves some uncertainty around the Bhatia-led talks. Negotiations are ongoing, and reports suggest a deal is believed possible, but there is a difference between an active discussion and a completed agreement. Hogan's wording was careful. It was about openness to outside money if it helps the club, not about any handover.

He pushed the wider point even harder when discussing Liverpool's scale. "There's a huge opportunity still. This is the biggest and most popular sport in the world and we're one of the biggest clubs in the biggest league in the biggest sport in the world."

That sounds like standard executive optimism, but in this case it fits the numbers he chose to cite. Fifth in Deloitte's global list is not market-leading, yet it is strong enough to support the claim that Liverpool are still commercially attractive. So is £702m in revenue, which Hogan said was the highest in the Premier League.

Growth talk and transition reality

The interesting part is that Hogan is selling growth at the same time Liverpool still look like a club in reset.

He said the club is "in a very healthy place as a football club - the leadership from ownership is in a very steady place and we're looking forward to the next season and the season ahead." That is clearly the official line, and some of it is persuasive. FSG's pitch has long been about sustainability and reinvestment rather than short-term vanity.

"All of that investment, as has always been the case since 2010, goes back into the club. It's about running the club sustainably," Hogan said.

There is evidence for the spending part. Liverpool had a record summer spend of £450m last season. Hogan also pointed out how sharply their transfer behaviour can change from one year to the next, saying: "Sometimes that means significant expense and other times it doesn't like in the summer of 2024 when there was only one addition (Federico Chiesa for £12.5m)."

But the transition is not hard to see. Mohamed Salah, Andy Robertson and Ibrahima Konate all left on free transfers. Michael Edwards stepped down as FSG's CEO of football after plans for multi-club ownership were abandoned. Liverpool are also listed 14th in the current Premier League standings, which makes the upbeat financial messaging easier to question from a football angle.

That does not mean Hogan is wrong. It means the club are trying to sell two truths at once: Liverpool remain one of the biggest commercial names in the game, and Liverpool are still working through a significant reset on the pitch and in the wider structure. The first claim looks well supported. The second makes the investment story more understandable, not less.

There is a similar tension around valuation chatter. The Financial Times has put Liverpool's value at more than £4.5bn, but that should be treated as an attributed estimate rather than a club-confirmed number. Hogan stayed on firmer ground by talking about revenue, ranking and long-term opportunity instead.

The wider project still needs proof

One of Hogan's more concrete promises concerned the women's side, where Liverpool have lagged behind their own ambitions for years.

"We now have one of the best training centres at AXA Melwood, we are investing in the squad and we will approach the women's team the same way we approach the men's team - which is to run it sustainably," he said.

That is a sensible line, though the club have work to do. Liverpool's women's team finished 11th in the WSL last season and have not won the top-flight title since 2014. If the ownership want their growth story to feel convincing across the whole club, this is one area where results will need to catch up with the language.

For now, Hogan's message is clear enough. Liverpool are open to minority investment, the talks with the Bhatia-led consortium are real, and the ownership do not want that read as a step away from the club. The next public marker is still on the tour in New York, where Liverpool face Wrexham at Yankee Stadium.

FAQ

Why are FSG looking at minority investment in Liverpool?

Billy Hogan said FSG have long been open to investment if it helps the football club. He framed the current talks with a consortium led by Amit Bhatia as part of that approach, not as a sign the owners are stepping away from Liverpool.

Is Liverpool being sold by FSG?

No. Hogan's message was the opposite. He said the club is in a very healthy place and described the ownership leadership as steady. The current situation is talks over a strategic minority investment, with negotiations ongoing rather than any completed sale.

How strong are Liverpool's finances right now?

Hogan pointed to Liverpool being fifth in the Deloitte Football Money League and posting £702m in revenue, the highest in the Premier League. He used those numbers to argue the club is already strong commercially but still has room to grow.

Are Liverpool in transition despite the investment optimism?

Yes, and that is the tension in Hogan's message. Liverpool had a record summer spend of £450m last season, but they are also dealing with major departures and broader change. The club are listed 14th in the current Premier League standings, so the reset is real even if the executives are talking growth.

• bbc.co.uk

Written by Jack Mercer with AI-assisted research, cross-checked against 1 outlet. How we work →