Jeff Bezos consortium to buy minority Liverpool stake in £1.5bn deal

The consortium including Jeff Bezos has reached a definitive agreement to buy a minority stake in Liverpool from majority owners Fenway Sports Group for more than £1.5bn. 1892 Holdings, led by former QPR director Amit Bhatia and including the Amazon owner Bezos and Eduardo Saverin, one of the founders of Facebook, will have a share of between 30 per cent and one-third in the Premier League club. FSG will retain operational control and run day-to-day operations, with no change to the leadership to the club. John W Henry remains principal owner, Tom Werner chairman and Mike Gordon president while the club’s strategy and broader principles remain the same. Jeff Bezos has a wealth of roughly $270bn (AFP/Getty) While Bezos is one of the world’s richest men , with a wealth of roughly $270bn, there will not be a change to Liverpool’s transfer budget or policy, with no new funds for manager Andoni Iraola as he looks to bolster his squad. The club are also bound by financial sustainability rules while transfer decisions remain up to the club’s sporting side, led by director of football Richard Hughes. Bezos will not become a director of Liverpool but an expanded board will include Bryan Baum from K5 Sports, a fund in which Bezos is the lead investor, and Elaine Saverin, wife of Eduardo, the Brazilian venture capitalist who launched Facebook with Mark Zuckerberg and is now based in Singapore. Bhatia will become a vice-president of Liverpool. The son-in-law of the Indian steel magnate Lakshmi Mittal and another billionaire, he has impressed FSG personally and professionally and they consider him a partner who respects the club’s history and identity. Bhatia has been FSG’s primary partner as their negotiations . The American group have often fielded inquiries from possible buyers and, while they had no financial need to sell, were impressed by the calibre of people involved in 1892 Holdings and their range of experience and expertise. Gordon, the FSG President, said: “Liverpool has always been built by thinking beyond one season and making decisions with the club’s long-term interests in mind. That approach continues to attract interest from respected investors and business leaders around the world. As we considered this opportunity, it became clear that Amit and the consortium shared our long-term philosophy and appreciation for what makes Liverpool special. Their experience and perspective will complement the strong foundation already in place, and we look forward to working together.” Fenway Sports Group, owners of Liverpool since 2010, retain operational control and there will be no change to the club’s leadership (Getty) Bhatia, who stepped down from the QPR board last month, was only interested in investing in Liverpool and had not looked at other clubs. When, after discussions, with FSG, the opportunity investment arose, he started putting together the consortium, including Saverin and Bezos. He said: “We are incredibly proud to be investing in Liverpool Football Club and to be doing so alongside FSG. We have the utmost respect and admiration for FSG as owners and for everything they have achieved at Anfield. To be welcomed as a partner in a club of this stature is a huge privilege. We are making this investment because we believe deeply in Liverpool and its leadership, and we look forward to supporting the club's continued success for years to come.” FSG bought Liverpool for £300m in 2010. The 1892 investment now places the value of the club at just over $7bn (£5.1bn). The documents in the transaction offer some flexibility of how the relationship between FSG and 1892 could develop over time but it is not a pre-determined plan towards full ownership.