Liverpool could do business with someone Jürgen Klopp hates

Arsenal and Liverpool owners joined Chelsea's Todd Boehly in seeking to establish a multi-club network initiated by Manchester City owner City Football Group. Arsenal's Stan Kroenke, who already owns an MLS team, and his Liverpool counterpart John W Henry are exploring the possibility of adding clubs in and outside Europe to their portfolios after Boehly indicated he would like to establish what he described as "a multi-club model". Arsenal, Liverpool and Chelsea are under US ownership.

City Football Group, owned by Abu Dhabi United Group, has a stable of clubs in 11 countries, including three in Europe: Spanish side Girona, Belgium's Lommel and French side Troyes. Boehly is believed to have begun the process of finding other clubs to invest in after Brazilian club Santos, where Pele spent most of his career, reportedly turned him down.

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He reportedly instructed Chelsea's new business president Tom Glick to take charge of the process, which could lead to investments in clubs in the Belgian and Portuguese leagues. They and Brazil are seen as potentially lucrative sources of young players and Boehly is reported to have consulted Jorge Mendes about which clubs to consider in the Portuguese agent's homeland.

Kroenke, who owns the Colorado Rapids in MLS, the Denver Nuggets in the NBA, the Colorado Avalanche in the NHL and the NFL champion Los Angeles Rams, among others, has reportedly explored the possibility of acquiring clubs in Brazil, Belgium and Portugal. While Arsenal sources have played down immediate plans, it is believed the club wants to develop its existing links with the South American country in particular. Arsenal were cleared of improper dealings with Belgian club Beveren following a FIFA investigation in 2006, prior to Kroenke's involvement.

Liverpool wants to agree a deal with Todd Boehly

Liverpool's owner, Fenway Sports Group, owns baseball's Boston Red Sox, the NHL's Pittsburgh Penguins and last year sold a large stake to RedBird Capital, the company that acquired Italian champions Milan in August for £1.1bn and has an 85% stake in Toulouse. It is understood that FSG would like to join that group. A spokesman for FSG declined to comment.