A consortium led by Amit Bhatia, the former co-owner of Queens Park Rangers and son-in-law of Indian steel magnate Lakshmi Mittal, has initiated discussions with Liverpool's owner, Fenway Sports Group (FSG), regarding the acquisition of a significant minority stake in the Premier League club. The proposed offer is believed to be approximately £1.35 billion for a 30% share, though neither party has officially commented on the size of the stake or the investment amount. FSG has confirmed that talks began three months ago but remain at a preliminary stage.
Valuation and Market Context
The reported offer values Liverpool at around £4.5 billion. This valuation places Liverpool slightly above Manchester United, which was valued at slightly less when Sir Jim Ratcliffe purchased an initial 25% stake in February 2024, later increased to 27.7%. Forbes, however, estimates Manchester United's current value at $7.2 billion (£5.38 billion). Real Madrid tops Forbes' list as the most valuable club globally at $9.5 billion, with Barcelona second at $7.5 billion. For comparison, Todd Boehly and Clearlake Capital acquired Chelsea for £4.25 billion in May 2022 during a distressed asset sale following sanctions on former owner Roman Abramovich.
FSG's Motivation for a Minority Sale
FSG's potential sale of a 30% stake for £1.35 billion would represent a substantial profit on its £300 million purchase of the club in 2010. Principal owner John W. Henry, a venture capitalist, sees this as an opportunity to inject fresh capital while retaining overall control. FSG remains competitive but faces increasing financial demands from oil-rich state-backed clubs. The company has previously sought new investors, including a 10% sale to RedBird Capital Partners for £543 million in March 2021, and a 4% stake to Dynasty Equity for £164 million in 2023, which was used to pay off pandemic-era debts. The current talks are not part of an exit strategy but rather a means to secure funds for continued investment. FSG recently funded a record £450 million transfer outlay last summer, including £125 million for Alexander Isak on deadline day in August 2025, while posting a modest £8 million profit in the 2024-25 Premier League title-winning season under Arne Slot.
Potential Investors and Their Wealth
Amit Bhatia stepped down as co-owner and director of QPR on Tuesday after 18 years, signaling a shift in focus. He is believed to have secured financial backing from the Mittal family, whose wealth is estimated at £23 billion. However, a more significant potential investor is Amazon founder Jeff Bezos, the world's fourth-richest person. Bezos has been approached about joining the consortium but is reportedly undecided on investing in a Premier League club for the first time. Bezos, now executive chair of Amazon, has seen the company expand into sports rights, including Premier League broadcasting.
Impact on Liverpool's Operations and Future
If the deal proceeds, it would significantly improve Liverpool's capital base as the club enters a new era under manager Andoni Iraola. The extent of Bhatia's influence over football operations remains to be negotiated, but FSG president Mike Gordon's return to a more prominent role after Michael Edwards's departure suggests FSG is unlikely to grant full football control to a minority shareholder, unlike the Glazers' arrangement with Ratcliffe at Manchester United. Given the preliminary nature of talks, Liverpool's summer transfer plans are not expected to be affected immediately.
Next Steps
Negotiations will continue until a deal is finalized or collapses. FSG's willingness to confirm Bhatia's bid in a statement to the Financial Times on Tuesday, coupled with Bhatia's departure from QPR the same day, indicates progress toward a successful conclusion.
