Premier League club Liverpool sells minority stake to Jeff Bezos consortium

Bezos is not expected to join Liverpool's expanded board of directors, which will reportedly feature businessman Amit Bhatia as the Premier League club's vice chairman.(AFP) — Liverpool’s owners have agreed to sell a minority stake in the Premier League club to a consortium that includes Amazon founder Jeff Bezos.U.S.-based Fenway Sports Group, owner of the 20-time English champions, said it had agreed to the deal with 1892 Holdings, a consortium led by British-Indian businessman Amit Bhatia and also featuring Bezos and Eduardo Saverin, who co-founded Facebook.According to reports, the stake acquired by the consortium is about 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 venture capital firm K5 Sports, which Bezos is using to invest in Liverpool, is set to become a member of the club’s board, 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 value Liverpool at between about $6.8 billion and $8.1 billion.It is Bezos’ first investment in a sports team after he was previously linked with purchasing the NFL’s Seattle Seahawks and Washington Commanders.Bhatia, the son-in-law of Indian billionaire Lakshmi Mittal, has extensive experience in soccer boardrooms after serving as QPR co-owner for 18 years before stepping away from the English Championship club once his Liverpool link became public.‘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 emphasized that it 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 about $406 million in 2010 and sold a minority stake of about 3% to global sports investment firm Dynasty Equity three years ago.Liverpool opens its Premier League campaign at Newcastle on Aug. 23.The club is looking to bounce back from a disappointing fifth-place finish in the top flight last season.That failure led to Arne Slot being fired as Liverpool manager just 12 months after he led the club to the Premier League title in his first season after succeeding Jurgen Klopp.With several weeks until the Premier League transfer window closes, the new investment could provide a boost to Reds manager Andoni Iraola as he looks to strengthen his squad for the new season.Liverpool has so far spent about $127 million on signing Jeremy Jacquet and Victor Munoz since the end of last season.Subscribe to our free newslettersOur weekly newsletter Closing Arguments offers the latest about ongoing trials, major litigation and rulings in courthouses around the U.S. and the world, while the monthly Under the Lights dishes the legal dirt from Hollywood, sports, Big Tech and the arts.Additional Reads