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That passing of the baton is considered to have been a major turning point in the Reds’ recent history, with a sense of order restored off the field.
Klopp’s arrival in October 2015 was another key moment for the club, with a German tactician having helped to lift the club back onto the top of domestic, continental and global perches.
Those calling the shots from the boardroom and dugout are committed to their current roles for the foreseeable future, which suggests further success can be achieved, but they will not be around forever.
Carragher believes another managerial change will be made in a little under four years’ time, while it remains to be seen how long FSG decide to stick around on Merseyside.
The Reds legend told the Liverpool Echo when reflecting on a memorable decade for the reigning Premier League champions: “So I think their legacy FSG when they sell up, as they eventually will do at some stage, Anfield will be unrecognisable and Liverpool will have one of the best training grounds in the world.
“They brought in the first title in 30 years, they got Jurgen Klopp at this club for longer than he's been at any other, I am not quite sure he will stay at the end of his current contract.
“And fingers crossed there's a few more trophies before Klopp goes or FSG go, whatever stage that is. So yes, I think they have done a great job.
“To be the owners that won the league, it is their legacy, isn't it?”
FSG and Klopp have formed the perfect partnership at Liverpool, with a heady mix of ambition and ability having allowed the Reds to make shrewd investments and reap rich rewards.
Carragher added: “If you look at the net spend is it huge? No it is not, but does it need to be right now?
"”ou know there will come a time when Liverpool are not top of the league and they are fighting it out for the top four position. Loads of teams have done it, look at Chelsea and Manchester United right now.
“Ten years ago they were dominating the league, at the moment it is us and City. It goes in roundabouts and that maybe the time when FSG have to spend a little bit more to get Liverpool back on top.
“There was a summer in 2018 when they did really spend big. It was a couple of hundred million. There was Naby Keita, Alisson, Fabinho, Virgil van Dijk had come in earlier in the year.
“I am not daft, I know the owners are not Manchester City's owners or Chelsea's. At the moment, whatever you say about the Glazers at Manchester United, they have spent a lot of money.
“Liverpool haven't and they are applauded for that but don't get me wrong, that means you have to get a lot right if you can't blow your teams out of the water, financially.