Fenway Sports Group (FSG) sold close to 40 per cent of Liverpool Football Club to the consortium including U.S. billionaire Jeff Bezos.
Early suggestions on both sides of the transaction indicated the purchased stake was in the range of approximately 30 per cent to one-third, but The Athletic can reveal the figure is actually much closer to 40 per cent, according to sources with knowledge of the deal, who spoke on the condition of anonymity due to the confidentiality of the process.
1892 Holdings, a consortium headed up and led by Amit Bhatia, the former Queens Park Rangers co-owner who will take up the position of vice-chairman at Liverpool, has purchased around a 38 per cent shareholding in Liverpool.
That is a much more significant share of the club, while there is also an option for the consortium to buy a controlling stake in the Premier League side, as per the terms of their agreement with FSG, in the next 12 months.
The language around the potential for them to buy an even bigger stake, however, does not constitute a formal commitment, so it is only an option that could lead to further investment as opposed to being a requirement.
As well as Bezos, who is one of the wealthiest individuals in the world, Bhatia is also joined in 1892 Holdings by the family office of Facebook co-founder Eduardo Saverin and his wife Elaine, as well as the Mittal Family Trusts.
Bezos’ involvement comes via K5 Sports and it is his first foray into sports ownership, although he will not have a seat on the board. Bryan Baum from K5 Sports and Elaine Saverin will join Bhatia on the board.
As part of the transaction between FSG and 1892 Holdings, the Boston-based company will continue to be majority shareholders and are retaining operational control of the club.
“The strategic investment supports Liverpool FC’s long-term growth ambitions by bringing together experts from across global business, technology and investment,” FSG’s statement, released on Friday, read.
“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 FC.”
In the same statement, Bhatia, speaking on behalf of 1892 Holdings, said: “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.
“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.”