Earlier this year, in February 2025, FSG sent a delegation to evaluate Malaga’s facilities as part of their exploration of a potential acquisition.

The Spanish second-division club, which reached the Champions League quarter-finals in 2013, seemed an ideal candidate for FSG’s expansion plans, with the Liverpool owners believing there was an opportunity to restore Malaga to the upper echelons of the Spanish and European game.

Complicating matters further, Liverpool is not the only major European club interested in Malaga.



Paris Saint-Germain’s owners, Qatar Sports Investments (QSI), have also expressed interest in adding the Spanish club to their portfolio.

Liverpool plans for Anfield as club explore options after big stars secured and £31m boost	Brighton chief reveals Carlos Baleba stance amid Liverpool links	Ex-Man City chief disagrees with Jamie Carragher over 'crazy' Mohamed Salah Liverpool contract

When Michael Edwards returned to FSG as Chief Executive of Football in 2024, the move came with an explicit commitment to expanding the group’s football operations beyond Liverpool.

This strategic pivot represents a significant shift for FSG, which had previously resisted following the multi-club trend pioneered by Manchester City’s owners, who now control 13 clubs globally under the City Football Group umbrella

The Malaga pursuit isn’t FSG’s first in their multi-club pursuit.

In July 2024, both FSG and Bordeaux confirmed negotiations were underway for the Liverpool owners to purchase the troubled French club – but stadium rental concerns pulled the plug on that deal.

And now after the news earlier this year regarding Malaga, it seems FSG have likewise cooled their interest in the Andalusian outfit

That’s Kiki Perez, who is the general manager of Malaga, has revealed that no interested party has yet formalised their interest with a formal bid or offer.

He adds that the current hierarchy is focused on leaving the Spanish side in as best shape as possible for the new owners who eventually come in:

“There’s no real information.

Whoever wants to buy [the club] knows where to go.

Any interested fund or intermediary that calls is referred to them to contact the owner.”

“The administration situation isn’t ideal for a football club that stirs emotions and passions.

We have to focus all day long on leaving the club as high as possible so that if someone comes, they can find it as it is, in the best possible condition.”

The club has been in administration and under judicial control since 2019, following financial difficulties that emerged after their Champions League success a decade ago.
For more news relating to Manchester City, visit our sister site City Latest Live.