Fenway Sports Group (FSG) is negotiating the sale of a significant minority stake in Liverpool FC to a consortium led by Amit Bhatia, the businessman who recently ended his 18-year association with Queens Park Rangers. The provisional offer of £1.35bn would secure roughly 30% of the club and value the Anfield outfit at about £4.5bn.
Discussions between the parties began three months ago but remain at a preliminary stage. FSG has characterised the process as a pursuit of fresh investment rather than a prelude to a full sale, with the Boston-based group seeking capital to maintain the club’s competitive trajectory without surrendering overall control.
Consortium Details
Bhatia, son-in-law of Indian steel magnate Lakshmi Mittal, is believed to have secured backing from the Mittal family, whose wealth is estimated at £23bn. The consortium has also approached Amazon founder Jeff Bezos regarding participation, though the billionaire is reportedly undecided on entering Premier League football ownership. Bezos serves as executive chair of Amazon, which holds broadcast rights for top-flight English matches.
Bhatia’s departure from QPR was confirmed on Tuesday, the same day FSG acknowledged the talks in a statement to the Financial Times.
Financial Context
The proposed valuation reflects Liverpool’s growth since FSG acquired the club for £300m in 2010. The current owners have previously welcomed minority investors, selling 10% to RedBird Capital Partners for £543m in 2021 and a further 4% to Dynasty Equity for £164m in 2023. The latter sum addressed debts accrued during the pandemic.
Last summer, Liverpool committed almost £450m to transfers—a club record outlay that contributed to a modest profit of £8m during the 2024-25 campaign. Sustaining such expenditure levels requires periodic capital injection, which the Bhatia consortium’s involvement would provide.
Next Steps
The structure of any potential deal remains unresolved, including the degree of influence minority shareholders would exert over football operations. FSG president Mike Gordon has assumed a more prominent role at Anfield following recent executive changes, suggesting the ownership group intends to retain strategic control rather than delegate football decisions to investors.
With negotiations ongoing, the club’s summer transfer plans are not expected to face immediate disruption. The talks continue until either an agreement is reached or the process collapses.