Former Liverpool CEO Peter Moore believes the 38% sale of the club by Fenway Sports Group to the 1892 Holdings group last week will eventually pave the way for a full takeover by Amit Bhatia's consortium.
It was confirmed last Friday that Bhatia, whose group contains the third richest man in the world Jeff Bezos and the co-founder of Facebook Eduardo Saverin, would be part of a new group of minority owners.
Bhatia, who stepped away from his role in Queens Park Rangers after nearly 20 years last month, has been appointed as the vice chairman, while Amazon founder Bezos - whose net worth is believed to be around £204billion - will be represented on the Liverpool board by K5 Global managing partner Bryan Baum.
Mr Saverin, who has a reported personal fortune of £24billion, will be represented on the board by his wife, Elaine.
Deal worth £1.65billion
The group have taken as much as 38% of the club in a deal worth around £1.65billion and it was reported by American publication CNBC last week that the group have the option to purchase Liverpool FC outright in 12 months' time for £6billion.
Mr Moore, who served as CEO for three years during Jurgen Klopp's time as manager, believes the Bhatia consortium may eventually take full ownership of the club. And the Liverpool-born businessman outlined how the Reds can grow their annual revenues with the help of the enormously wealthy firm of new minority owners.
"It's been 16 years now (for FSG as owners) but there is always an exit strategy and there's got to be," Moore told The Soccer Business podcast. "It's financial responsibility to ask: 'What would it take? What's our timeline? Where are we?'"
Exit strategy and liquidity event
John Henry and Tom Werner are both 76 respectively. As a guy in his 70s you start thinking about your estate and what you leave behind and you may be getting some pressure as well from other partners who are invested in this, who maybe don't have the high profile of John, Tom and to a lesser extent Mike do. But maybe they are saying: 'Hey, look, we would like to be able to cash out'.
"So, yes, there is always an exit strategy and you know, like I say, this is more a liquidity event that sets a higher bar for valuations and they watch with interest."
[FSG] are an American group with deep experience of owning franchises, as we call it over here. So they have experience of handling billions of dollars.
"I think that whoever this group is, the Bhatia group (1892 Holdings), whenever you have a merger and acquisitions situation where you're coming in with billions of dollars for a substantial minority, there is a conversation if not a contractual agreement, for majority ownership. What is the path to that?
"You've got a relatively young man in Bhatia, in his 40s and maybe that path is for him to become the controlling operator of the club, I don't know. These things are delivered by blue-chip law firms to phrase and paper up a merger and acquisition."
Commercial revenue growth
I know the owners well and I want to be clear I am talking as a fan, 5000 miles away. It is very clear I think from his actions that Amit Bhatia is very involved as the frontman, particularly as he resigned from his position at his beloved Queens Park Rangers.
"You can't get past what was formerly Profit and Sustainability and now Squad Cost Ratio [rules] going into this season. Look, if fans think that Jeff Bezos, Eduardo Saverin, Amit Bhatia are writing personal cheques for strikers, absolutely not.
"What needs to happen here and this is maybe what can happen when you do bring in people of this power, wealth and influence is you grow your commercial revenues, which is what you have to do.
"You've got to continue to grow the commercial revenues to be able to, in simple Squad Cost Ratio terms, 85% of that (revenue) can be used for on-pitch costs. So that I think will be the benefit of a Jeff Bezos being involved.
"If he is hands-on with this and he wants to be involved then how can he bring his enormous wealth and talent in growing revenues to Liverpool Football Club?
"And maybe [that leads to] a relationship with Amazon. But fans shouldn't get too excited swapping one billionaire group for another, because that is what we have in FSG, obviously."
[FSG] are great owners, they have never taken a penny out of the club and it was a privilege for me to work with them. Fans should take pause, read the rules and regulations going into the 26/27 season and see exactly what money could be spent on the pitch: transfer fees, salaries etcetera. The key to being able to spend more money is to grow the commercial revenues.
Moore, who served until the summer of 2020 before being replaced by Billy Hogan added: "When I was there we really started to build our global footprint.
"Particularly with retails stores and particularly in Asia where you can really grow your brand, make your merchandise available, so people can show their fandom.
"And I think just in the last few weeks, Liverpool have announced another group of stores opening up. The number now when all that is done is 40 retail stores, including down in London, on Oxford Street.
"There is plenty of headroom for Liverpool, on a global basis, to grow their commercial revenues. When I was there I talked a lot about a local heart and a global pulse and that is what Liverpool has."
