Could Manchester City avoiding FFP punishment be the death knell for FSG??

Make no mistake about it, Manchester City avoiding a Champions League ban is a significant moment for football.

It could also be a momentous time for Liverpool Football Club. Fenway Sports Group invested in Liverpool partly as a result of the presence of Financial Fair Play. They have maintained the club must be self-sufficient and so far they have been able to compete with Manchester City and their contemporaries.

However, this summer has shown this may not be possible anymore. Despite protestations against it, this is a massive blow for FFP, and will surely lead to doubts over its practicality.

For Fenway Sports Group this throws up questions over their ownership. Now with owners covering club losses and FFP being relaxed they need to answer questions of how they run the club.

It's clear Jurgen Klopp has been after reinforcements for this summer, particularly in attack. Despite rumours of Thiago Alcantara and the failed pursuit of Timo Werner it doesn't look like there will be additions this summer.

There is a discussion of 'internal transfers'. These come in two shapes. The first being the hope that players like Naby Keita and Takumi Minamino will make a big impact next season.

Then there is the collection of academy graduates such as Curtis Jones and Neco Williams coming through.

However, both of these are gambles, with the Reds squad looking thin in spots.

There will come a time soon, where the Reds will need outside reinforcement to stay at the top. This money may have to come from outside of the club's earnings given the economic climate.

When/if this happens, it'll be interesting to see the decision FSG make. If they sold now, they'd make a vast profit and leave the club in far greater shape than they found it.

However, if they stay either players will need to be sold or cash will need to be injected as the team ages.