After investing roughly £60 million in the playing squad to get Liverpool from seventh to fourth place, FSG has decided to part ways with the club legend, despite Dalglish's bringing the Carling Cup to the club and being a linesman's call away from possibly winning the FA Cup.
The owners claiming that they had "full support" in Dalglish a month ago has proven worthless.
With two popular managers leaving in recent years on the whim of the owners, fans have a right to wonder where exactly the club is going and what will constitute a successful season next year.
The owners have a huge decision to make.
Install an unpopular choice of manager (namely a manager without top-line success and experience) and they could be faced with a supporter base connecting them with the previous, disastrous American owners.
Soon LFC fans will know if they have worthy owners with ambition to match the expectations of the fans or more cowboys.
Let's hope they get it right.
And thanks, Kenny, for bringing the club back together and, of course, the silverware. You should be knighted.