Fenway Sports Group (FSG), the owners of Liverpool Football Club, are reportedly in discussions to sell a significant minority stake in the club. The potential buyer is a consortium led by Queens Park Rangers co-owner Amit Bhatia, with backing from his father-in-law, Lakshmi Mittal, a prominent Indian steel magnate.
FSG confirmed to the Financial Times that negotiations have commenced with Bhatia’s group regarding a share sale. This potential transaction could value Liverpool at approximately £4.5bn. The investment consortium, led and managed by Amit Bhatia, has expressed interest in making a strategic minority investment in the club.
Ownership history and previous investments
FSG acquired control of Liverpool in 2010 for £300m. The Boston-based investment group, which also owns the Boston Red Sox and Pittsburgh Penguins, has previously engaged in discussions about minority sales without reaching an agreement. However, with the Mittal family managing assets valued at £16bn, the consortium is understood to possess the necessary resources for the transaction.
Industry sources have expressed surprise at the reported £4.5bn valuation, noting that it is considerably higher than recent sales of other Premier League clubs of similar size. For instance, Chelsea was purchased four years ago by the Todd Boehly/Clearlake Capital group for £2.5bn, although that was a distressed sale due to sanctions on the then-owner Roman Abramovich. Additionally, Sir Jim Ratcliffe’s acquisition of a 25% stake in Manchester United in 2024 valued that club at £3.9bn.
In 2022, FSG had indicated its openness to new investment in Liverpool, including minority shareholders or a full sale. At the time, the group stated that it frequently received expressions of interest from third parties seeking to become shareholders and would consider new shareholders under the right terms and conditions, if it was in the best interests of the club.
A full sale did not materialise, but an agreement with Dynasty in 2023 was valued between £82m and £164m. FSG hailed this deal as a means to offset bank debt accumulated from infrastructure projects, such as the redevelopments of the Main Stand, Anfield Road End, and the club’s Kirkby training ground. Following that deal, FSG president Mike Gordon affirmed the group’s long-term commitment to Liverpool, aiming to strengthen the club’s financial position and sustain its ambitions for continued success.
Strategic shifts and club operations
In a move indicating the seriousness of the consortium’s bid for Liverpool, Amit Bhatia resigned as a director of QPR last month after 19 years. The London-born entrepreneur has held various leadership roles at QPR since investing in the club in 2007. He stated that QPR had been a deeply important part of his and his family’s life, expressing pride, gratitude, and affection as he stepped back from his formal responsibilities.
Since the Dynasty deal, FSG had explored the possibility of acquiring a second club in continental Europe to expand its portfolio, following the multi-club models of Chelsea and Manchester City. However, after examining potential purchases, including Spanish sides Malaga and Getafe, and French club Bordeaux, FSG did not proceed with any of these deals and is now understood to have moved away from this model.
This decision to abandon the multi-club approach led to the departure of Michael Edwards last month. Edwards, a former Liverpool sporting director, had been rehired by FSG specifically to lead the multi-club project. Currently, sporting director Richard Hughes is managing the club’s transfer strategy this summer, with a contract extending until summer 2027, although he is reportedly open to a move to Saudi Arabia in the near future.
John W Henry, Liverpool’s principal owner, has maintained a lower public profile regarding club matters since acknowledging and apologising for his involvement in the European Super League project in 2021. Meanwhile, Liverpool is currently in the US under new head coach Andoni Iraola for a pre-season tour, which is set to begin with a match against Sunderland in Nashville on Saturday.
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Source: bbc.co.uk
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Charlie Bradshaw is the Senior Football Correspondent at News-GB, covering the Premier League, the EFL and the England national side with ten years of reporting experience. He covered Merseyside football before going national. He holds a degree in Sports Journalism from Liverpool John Moores University and completed an NCTJ diploma. Based in Liverpool, he watches non-league sides and collects old match programmes. “The back page is only ever half the story.”