I've long said that a club the size of LFC doesn't need third party deal makers to bring in commercial deals.FSM wouldn't be charging more than they charge other commercial clients so it is minimal as to how much (if any) they would be taking out via that method.
At the end of the day, FSG owns Liverpool too and I don't think that they are that hungry about yield that they need to take it out in a backhanded way.
If the senior management of a 'company' of LFCs size aren't capable of doing those deals in house, it's pretty shocking. It's not like we're talking £50k a year directors, we're talking people who've worked for billion dollar brands and done deals worth hundreds of millions.
I'm not sure if FSM are collecting their cut via a separate contract with the commercial partner that contracts separately with LFC, or whether LFC pays FSM for their services. But it nets to the same thing.
If LFC was being run to maximise revenues and profits, to ensure we can spend as much as possible on transfers within FFP, you'd do it in house and you'd keep all monies in the business.
The reason FSG would do it via FSM is to extract cash, and to do so under a different tax jurisdiction, whilst also reducing the profit in the UK business and thus reducing corporation tax here.
I wonder what the rolled up losses incurred in the years before we became profitable were? These will now be used to offset UK corporation tax liability. So if we say lost a cumulative £80m in years 2010 to 2017, we'd only pay CT on the c£10m of this profit.
Any group financial officer worth his salt would be managing profits in individual companies in the international group to this effect, just like Amazon et al do.
How much of an issue this is depends on the amount in question, whether the money as a %age is a reasonable ROI on the money funding sources, and indeed whether it's all just an ROI or is part funding the Redsox.
A 'dividend' of 5% to 8%, with all money returned to equity holders is one thing, 10% plus with money generated by LFC being redirected to the Redsox is quite another.