FSG’s refusal to spend on Bellingham a serious concern for Liverpool

Fenway Sports Group has considerable work to do if it wishes to improve its reputation among the Liverpool fanbase. That task is now an even greater challenge following last week’s news that the long-sought-after Jude Bellingham is on the verge of a move to Real Madrid.

While Liverpool has achieved immense success under John Henry’s stewardship, supporters have taken great frustration with his lack of investment into the club for key transfers. That the Reds could still challenge at the highest levels of domestic and European football has somewhat placated that frustration, but an underwhelming campaign has now subjected the club’s spending strategy to more frequent criticism.

Last summer, the Reds held an interest in both Aurélien Tchouaméni and Bellingham and despite failing to land either of the two, they then opted not to seriously pursue any midfielder other than Arthur, who has played a grand total of 13 minutes in his loan spell from Juventus. Liverpool’s reluctance to make any other additions to its midfield has proven severely damaging to its season as Jordan Henderson and Fabinho have endured poor individual campaigns while Thiago has missed much of the year through various injuries.

If Klopp is to guide his side back into contention for major silverware, he’ll require strong upgrades in the middle of the park. For years now, the desire among Liverpool supporters to add Bellingham to their side’s ranks has been fierce and unanimous.

It’s easy to understand why. Liverpool’s midfield has largely lacked energy, intensity and creativity throughout this difficult campaign and the Englishman offers all of those qualities in abundance. His work-rate would make him an excellent fit for Klopp’s high-tempo system, and at just 19 years of age, Bellingham is the obvious choice to rebuild Liverpool’s midfield around.

The problem for Liverpool, however, is that FSG’s refusal to meet Borussia Dortmund’s asking price has denied the club that choice. The Boston-based group reasoned that it’s more sensible to allocate its budget towards numerous transfers for lower fees rather than splash it all on one major signing.

Though the thinking behind such a strategy is reasonable, the limitations to what FSG is willing to spend on the necessary improvements to Liverpool’s squad raises real questions about how much more the club can accomplish under its ownership. The reality of the modern game is that at a certain point a club needs to invest heavily in transfers if it aims to consistently and successfully compete for silverware and the addition of Bellingham as well as another midfielder and center half would represent large steps forward towards those ends. FSG’s reluctance to allot the funding necessary for all those additions will slow Liverpool’s rebuild and possibly even put the club at risk of falling behind its competitors as the likes of Newcastle, Arsenal, Manchester United and Manchester City will likely participate far more actively in this summer’s transfer window.

Klopp has performed exceptionally with the lack of financial backing he’s had in comparison to the other leading clubs in England and Europe. The club’s success under his management has shielded the flaws of his bosses’ spending strategy from the spotlight for much of his tenure, but it was inevitable that insufficient investment in the club would eventually catch up with him and so this underwhelming season has proved.

In 2018, the big-money signings of Virgil Van Djik and Allison Becker were massive catalysts for the Reds’ achievements over the next several seasons. The sale of Phillipe Coutinho generated the funds for those transfers, but back then, Liverpool’s squad was deep enough that it could afford to lose a star player in midfield to receive the revenue necessary for crucial additions at the back. If the Merseyside club were to sell any key players this summer, however, it would just leave more holes in the squad to fill.

While Liverpool will target other midfielders over the summer, the fury among its supporters over its unsuccessful pursuit of Bellingham is more than understandable. FSG has passed up a golden opportunity to sign a player whose impact would immediately boost its club’s chances of climbing back up the table next season and whose value would undoubtedly grow exponentially in the coming years. If Liverpool are to properly bolster its squad, FSG will eventually have to cough up more money than it may like to.