Liverpool's owner, Fenway Sports Group (FSG), is in talks to sell a minority stake to a consortium led by former Queens Park Rangers co-owner Amit Bhatia, backed by his father-in-law, billionaire Indian steel magnate Lakshmi Mittal. The Guardian understands that a sale of 30% of the club is being discussed, with an offer of around £1.35bn on the table.
FSG confirmed in a statement to the Financial Times that it had begun negotiations with a group led by Bhatia over a potential minority share sale that would value Liverpool at about £4.5bn.
FSG statement and deal background
“An investment consortium led and managed by Amit Bhatia has expressed interest in making a strategic minority investment in Liverpool Football Club,” the statement said. It is believed that talks over the deal have been ongoing for three months.
FSG paid £300m to take control of Liverpool in 2010 and is poised to secure a spectacular return on its investment. The Boston-based group, led by John W. Henry, also owns the Boston Red Sox and Pittsburgh Penguins. It has previously held discussions over a minority sale without reaching agreement, but with the Mittal family possessing an estimated net worth of £23bn, there is no doubt the buyers have the resources to execute the transaction.
Valuation and market context
Industry sources expressed surprise at the purported £4.5bn valuation, but it is in line with recent deals. Chelsea were bought four years ago by the Todd Boehly/Clearlake Capital group for an overall £4.25bn, although £2.5bn was to purchase the shares from Roman Abramovich. These proceeds were deposited into a frozen UK bank account, while £1.75bn was a legally binding commitment for future investment directly into the club. Sir Jim Ratcliffe’s purchase of 25% of Manchester United in 2024 valued the club at £4.3bn.
Bhatia's QPR departure
In an indication of the seriousness of the consortium’s bid for Liverpool, Bhatia resigned as a director of QPR on Tuesday after 19 years. The London-born entrepreneur has held numerous leadership roles at QPR since investing in the club in 2007. He said: “QPR has been a deeply important part of my life, and of my family’s life … I step back from my formal responsibilities with pride, gratitude and affection.”
Liverpool are in the US under their new head coach, Andoni Iraola, for a pre-season tour which begins with a game against Sunderland in Nashville on Saturday.
