Liverpool FC's new minority investors, led by Amit Bhatia, are settling into their roles at Anfield just as one of the biggest financial scandals in English football unfolds. The consortium, 1892 Holdings, took a 38% stake in the club in August, with Bhatia appointed vice-chairman on August 14.
Bhatia arrived with powerful backers, including Facebook co-founder Eduardo Saverin and Amazon creator Jeff Bezos, estimated to be the third richest person in the world at £204 billion. Neither Bezos nor Saverin sit on the new Liverpool board, but they are represented through associates: Bryan Baum of K5 Sports for Bezos, and Saverin's wife Elaine, part of the EE Capital arm of the consortium.
New board structure and City's charges
The reconfiguration places Bhatia alongside the FSG triumvirate: principal owner John W Henry, chairman Tom Werner, and Fenway president Mike Gordon. Bhatia's near two-decade stint at Queens Park Rangers, relegated from the Premier League in 2015 during Manchester City's financial period, gives him a unique perspective on recent developments.
Manchester City were found to have artificially inflated commercial revenue by £830 million between 2009 and 2018. Premier League chief Richard Masters said City had "systematically broke Premier League Rules for nearly a decade," with the core decision referring to "sham" contracts as many as eight times in a redacted 40-page document.
Potential compensation and commercial growth
Liverpool, along with Manchester United, Arsenal, and Tottenham Hotspur, served legal notices on City in 2024, reserving the right to seek compensation. Reports suggest clubs believe damages could reach £100 million. Former Liverpool CEO Christian Purslow told the Football Boardroom podcast that a comprehensive settlement could range from £550 million to £600 million, factoring in bonuses for teams finishing second.
Meanwhile, Liverpool's commercial operations continue to expand. The club confirmed Turkish Airlines as main club partner from June 2027 in a record five-year deal worth £300 million. Standard Chartered, sponsor since 2010, will transition to a 'global partner'. Chief commercial officer Ben Latty called it "a milestone announcement," noting Turkish Airlines is "a globally recognised organisation with an extensive international network."
Revenue records and global expansion
Liverpool's commercial revenue rose by £15 million to £323 million, and Deloitte estimated the club earned £702 million in total revenue, the most of any English club. A new club store opened in Durban, South Africa, with help from Lucas Leiva, giving Liverpool three outlets in the country. Senior vice-president of merchandising Lee Dwerryhouse said South Africa has 12.5 million Liverpool supporters, and the club is "the only European football club with standalone retail stores in Africa."
With 1892 Holdings on board, Liverpool aims to explore the untapped Indian market, given Bhatia's father-in-law Lakshmi Mittal is an Indian billionaire steel magnate. The addition of tech giants like Bezos and Saverin suggests vast potential for further growth, and City's guilt, pending appeal, might play into Liverpool's hands at an opportune time.
