What FSG shareholder's £82bn Warner Bros breakthrough means for Liverpool

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Tom Werner TalkingPoints creative Credit: Winslow Townson/Getty Images Well, Cardinale – who also owns AC Milan through RedBird – has spoken in somewhat esoteric terms about the value he sees in Liverpool’s intellectual property (IP). In layman’s terms, that’s the rights to sell products and services using Liverpool’s trademarks and copyrights.

It’s also the reason that, despite failing to be consistently profitable, the club is valued at around £4-6bn, depending on who you ask.Simply, the new wave of American investors in the Premier League’s biggest and best clubs evangelise about how their IP is poorly monetised. It’s a way of talking about football that is completely alien for bedrock fans on the terraces at Anfield, but it’s the way these private equity types think.Liverpool’s commercial income in 2024-25 was about £315m.

Is the Premier League’s financial distribution system FAIR? According to University of Liverpool football finance lecturer Kieran Maguire, that kind of expertise will be invaluable if and when Liverpool lean even more heavily into their capacity to be a media company.If Liverpool go down the route of selling a portion of their rights direct to the consumer – and that was part of Project Big Picture and the European Super League – they will need a media company they can go through,” the Price of Football author told Rousing The Kop in an exclusive conversation.“Having an organisation like RedBird there who is able to advise Liverpool would be invaluable.