London (AFP) – Liverpool’s owners have agreed to sell a minority stake in the Premier League club to a consortium including Amazon founder Jeff Bezos. US-based Fenway Sports Group, owners of the 20-time English champions, said they had agreed the deal with 1892 Holdings, a consortium led by British-Indian millionaire Amit Bhatia and also featuring Bezos and Eduardo Saverin, who co-founded Facebook.
According to reports, the stake acquired by the consortium is around one-third of the club. American tycoon Bezos is the fourth-richest person in the world, with an estimated net worth of $256 billion. Bezos is not expected to join Liverpool’s expanded board of directors, which will reportedly feature Bhatia as the Premier League club’s vice-chairman. But Bryan Baum, founder of the venture capital firm K5 Sports, which Bezos is using to invest in Liverpool, is set to become an Anfield board member, alongside Saverin’s wife Elaine.
“Liverpool has always been built by thinking beyond one season and making decisions with the club’s long-term interests in mind. That approach continues to attract interest from respected investors and business leaders around the world,” FSG president Mike Gordon said Friday. “As we considered this opportunity, it became clear that Amit and the consortium shared our long-term philosophy and appreciation for what makes Liverpool special.”
The deal is believed to place Liverpool’s value at between £5 billion ($6.8 bn) and £6 billion. It is Bezos’s first investment in a sports team after he was previously linked with purchasing NFL franchises Seattle Seahawks and Washington Commanders. Bhatia, the son-in-law of Indian billionaire Lakshmi Mittal, has extensive experience of football boardrooms after serving as QPR co-owner for 18 years before stepping away from the English Championship club once his Liverpool link became public knowledge.
– ‘Huge privilege’ –
“We are incredibly proud to be investing in Liverpool Football Club and to be doing so alongside FSG. We have the utmost respect and admiration for FSG as owners and for everything they have achieved at Anfield,” Bhatia said. “To be welcomed as a partner in a club of this stature is a huge privilege. We are making this investment because we believe deeply in Liverpool and its leadership, and we look forward to supporting the club’s continued success for years to come.”
FSG underlined they would retain control of decision-making at Anfield, saying the stake sale would “support Liverpool’s long-term growth ambitions by bringing together experts from across global business, technology, and investment.” The consortium partners will work with FSG and the club’s leadership team to evaluate opportunities that enhance the club’s objectives on and off the pitch. “FSG continues to retain majority ownership and operational control of Liverpool.”
FSG bought Liverpool for £300 million in 2010 and sold a minority stake of around three percent to global sports investment firm Dynasty Equity three years ago. Liverpool start their Premier League campaign at Newcastle on August 23. They are looking to bounce back from a disappointing fifth place finish in the top-flight last season. That failure led to Arne Slot being sacked as Liverpool manager just 12 months after he masterminded the club’s Premier League title triumph in his first season after succeeding Jurgen Klopp.
With several weeks until the Premier League transfer window closes, the new investment could be a boost to Reds boss Andoni Iraola as he looks to strengthen his squad for the new season. Liverpool have so far spent around £94 million on signing Jeremy Jacquet and Victor Munoz since the end of last term.
© 2024 AFP
