Dynasty Equity boss finally discloses why he invested in Liverpool amid £4bn reveal

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Fenway Sports Group came close to selling Liverpool in 2022, when they openly courted the market for fresh investment.Initially, FSG were looking at a full sale. In the end, they parted ways with a tiny portion of Liverpool – about three per cent – in a £127m deal with the private equity firm, Dynasty Equity.

Don Cornwell, one of Dynasty’s two co-founders alongside industry veteran Jonathan Nelson, has now revealed a little about his reasons for investing in Liverpool, as well as the kind of sway they wield in L4.Speaking to the industry publication PE Hub, former investment banker Cornwell said: “At Liverpool, we believe we have 300 million fans globally. If there’s an ability for us to interact with all 300 million of those folks and create products for them, we will finally get to where I believe this whole thing is going in sports.

When we’re looking at an investment in something like Liverpool, we are very happy to partner with a management team and ownership group.“We haven’t executed on one yet, but there are situations where we would take control of a traditional buyout. We’re built as a firm to do that.”It is a rare insight into the private equity mindset in the context of football club ownership.The pool of individuals who have the money and inclination to buy a club like Liverpool is now vanishingly small, which is why many commentators believe that, when FSG sell the Reds, it will be to a private equity firm who pool the wealth of hundreds of investors.At FSG level, at least two more private equity firms are involved: RedBird Capital and KKR-owned Arctos.Join Our NewsletterReceive a digest of our best Liverpool content each week direct to your mailbox