Fenway Sports Group (FSG), the owner of Liverpool Football Club, is reportedly in discussions regarding the sale of 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, Indian steel magnate Lakshmi Mittal.
FSG confirmed to the Financial Times that negotiations have commenced with Bhatia’s group concerning a possible share sale. This transaction could value Liverpool at approximately £4.5bn. An investment consortium led and managed by Amit Bhatia has expressed interest in making a strategic minority investment in the club.
FSG acquired control of Liverpool in 2010 for £300m. The current discussions suggest a substantial return on their initial investment. The Boston-based investment group, which also owns the Boston Red Sox and Pittsburgh Penguins, has previously engaged in talks for minority sales without reaching an agreement. However, with the Mittal family reportedly managing assets of £16bn, the consortium is believed to possess the necessary resources for the transaction.
Ownership and Investment History
In 2022, FSG publicly stated its openness to new investment in Liverpool, including minority shareholders or a complete sale. At the time, the group indicated that it frequently received expressions of interest from third parties seeking to become shareholders. FSG affirmed that it would consider new shareholders under the right terms and conditions, provided it was in the best interests of the club.
While a full sale did not materialise, an agreement with Dynasty in 2023 was valued between £82m and £164m. FSG lauded this deal for helping to offset bank debt incurred from infrastructure projects, including the redevelopment of the Main Stand, Anfield Road End, and the club’s Kirkby training ground.
Following that deal, FSG president Mike Gordon reiterated the group’s long-term commitment to Liverpool, aiming to strengthen the club’s financial position and sustain ambitions for continued success both on and off the pitch.
Industry sources have expressed surprise at the reported £4.5bn valuation, noting 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 described as a distressed sale due to sanctions on then-owner Roman Abramovich. Additionally, Sir Jim Ratcliffe’s acquisition of 25% of Manchester United in 2024 valued that club at £3.9bn.
Strategic Shifts and Departures
Since the 2023 Dynasty agreement, FSG explored the possibility of acquiring a second club in continental Europe to expand its portfolio, aiming for a multi-club model similar to those adopted by Chelsea and Manchester City. These clubs’ owners also operate teams in other territories.
However, after examining potential purchases, including Spanish clubs 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 the multi-club model. This decision reportedly led to the departure of Michael Edwards last month, who had been rehired by FSG specifically to lead the multi-club project.
Currently, Richard Hughes is managing Liverpool’s transfer strategy for the summer, with his contract extending until summer 2027. However, he is believed to be open to a move to Saudi Arabia in the near future. Liverpool’s principal owner, John W Henry, has maintained a lower public profile regarding club matters since acknowledging and apologising for his involvement in the European Super League project in 2021.
In a move indicating the seriousness of the consortium’s bid for Liverpool, Amit Bhatia resigned as a director of QPR on Tuesday after 19 years. The London-born entrepreneur has held various leadership roles at QPR since investing in the club in 2007. Liverpool is currently in the US under new head coach Andoni Iraola for a pre-season tour, which is scheduled to begin with a game against Sunderland in Nashville on Saturday.
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Source: bbc.co.uk
Adam Rutherford is a Senior Football Correspondent at News-UK. He spent his early career filing match reports across the North West. He focuses on the Premier League, the EFL and the England national side and is known for clear, deadline-driven reporting. He holds a degree in Sports Journalism from Manchester Metropolitan University and completed an NCTJ diploma. Now based in Manchester, he coaches a youth team and watches grassroots football. “Every transfer window hides a dozen real stories.”
