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Liverpool principal owner John Henry
Liverpool owners Fenway Sports Group are reportedly considering investing in Malaga as they look to press ahead with the multi-club model of their football operations.
But they could face competition over the potential purchase with Paris Saint-Germain owners Qatar Sports Investments having already expressed an interest in the Spanish side.
An article in The Athletic has claimed a delegation from FSG visited Malaga's facilities last month to explore and evaluate a possible investment that would allow them to impact on the football operation of the Andalusian club, who were promoted back to the Spanish second tier last season.
Malaga are currently in administration and under judicial control following a controversial period of ownership under Qatari businessman Sheikh Abdullah Al Thani, who first invested in 2010.
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He currently owns 51% of the club with the remaining 49% owned by Spanish hotel and real estate group Blue Bay.
It is stated FSG are focusing on the stake of Al Thani, although rival ownership group QSI earlier this week confirmed their interest in Malaga with separate claims suggesting it may cost up to €100million to take control.
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The changes behind the scenes in the FSG hierarchy over the last 15 months have been made in preparation for adding other clubs alongside Liverpool to their ownership group.
FSG want to press ahead with increasing their portfolio and were in talks with Bordeaux last year before withdrawing from discussions.
The ECHO has approached FSG for comment.
Alongside Liverpool, FSG also own Major League Baseball outfit Boston Red Sox, Pittsburgh Penguins of the National Hockey League, NASCAR team Roush Fenway Keselowski Racing and Boston Common Golf in the fledgling TMRW Golf League.