Bezos-backed consortium takes stake in Liverpool
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Live Events as a Reliable and Trusted News Source Addas a Reliable and Trusted News Source Add Now! (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel A consortium including Amazon founder Jeff Bezos has reached a definitive agreement to buy a minority stake in Liverpool, the Premier League club's owners Fenway Sports Group said on Friday.A source familiar with the matter said the stake is about one-third. British media reports said the deal was worth more than £1.5 billion, which values the club at over £5 billion ($7 billion).FSG, which bought Liverpool in 2010 for £300 million, will maintain the majority share and operational control of the club.The consortium, named 1892 Holdings, is led by former Queens Park Rangers chairman Amit Bhatia and also includes the Mittal Family Trusts, EE Capital and the K5 Sports fund, where Bezos is the lead investor."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," FSG president Mike Gordon said in a statement."Their experience and perspective will complement the strong foundation already in place, and we look forward toworking together."Bhatia will become the club's new vice chairman and join the expanded board along with Elaine Saverin from EE Capital and Bryan Baum from K5 Sports. Bezos will not have a seat on the board, according to the source."To be welcomed as a partner in a club of this stature is a huge privilege," Bhatia said."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.”Liverpool, who have been English champions a joint-record 20 times, finished fifth in the Premier League last season. They will start the new campaign at Newcastle United on August 23.($1 = 0.7382 pounds)
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