Amit Bhatia's consortium, 1892 Holdings, is expected to complete its purchase of a 38 per cent stake in Liverpool from Fenway Sports Group (FSG) before the December deadline, with reports indicating the group is confident of beating it. The deadline aligns with the Independent Football Regulator's (IFR) requirement to issue a final suitability determination for prospective new owners or senior executives within 90 days.
The consortium, which includes Facebook co-founder Eduardo Saverin and an investment from Jeff Bezos' K5 Global sports fund, agreed to buy 38 per cent of the Reds from FSG earlier this year. According to the Daily Mail, the deadline for the purchase is in December, and Bhatia's team insists there are no hitches and that the process simply takes time.
Options for Increased Control
The Athletic reports that 1892 Holdings has at least two options to increase its stake in the club once the IFR ratifies it as a part-owner. The first option is a structure that would enable the consortium to take control of the club by increasing its claim to 69 per cent. A total 100 per cent buyout of FSG is also a possibility.
There is also a suggestion that Bhatia's group may pursue a more gradual takeover at Anfield, allowing him and his colleagues time to learn the ropes at the club, with responsibilities increasing over an incremental process. Bhatia has been a visible presence at Liverpool matches since his appointment as vice-chairman, and the senior ownership figure at Queens Park Rangers has been seen attending away matches regularly.
Investment Value and FSG's Other Ventures
The initial investment is understood to be worth £3 billion, although it remains subject to approval from the IFR. FSG, who have been custodians at Anfield since October 2010, are also stakeholders in baseball's Boston Red Sox, ice hockey's Pittsburgh Penguins and NASCAR Cup Series team RFK Racing. It was recently claimed they are eyeing a £2bn purchase of this year's F1 debutants, Cadillac, which would make them majority stakeholders.
Former Liverpool chief executive under FSG, Peter Moore, predicted that Bhatia's consortium will become the full owner of the club in the near future. Moore said: "When an entity comes in at the valuation they apparently have for 38% of the club, there has been a conversation about what ownership then looks like. You don't acquire that percentage for billions of dollars without having a path to full ownership. The Amazon angle is a little silly, because Jeff Bezos has hundreds of multimillion-dollar investments. He has never said a word about Liverpool. I assume he knows he's an investor. It's really Amit Bhatia, and as you may have seen, he is married to the daughter of Mittal, which is where the real money is. To his credit, Amit has been at Queens Park Rangers for 16 years. He's a football guy, he loves football."
Moore added: "A number of friends of mine have met with him over the last few weeks, and he's a real football guy. He is the person to keep a very close eye on as a future owner, and I always put that in inverted commas, of Liverpool Football Club."
