Fenway Sports Group (FSG) is in talks to sell a small minority stake in Liverpool to an investment consortium led by British-Indian businessman Amit Bhatia.
The 46-year-old Bhatia announced earlier this week that he was stepping down from the board of Queens Park Rangers and transferring his shares in the Championship club to majority owner Ruben Gnanalingam. The move ended his 19-year association with the West London club.
In a statement, Bhatia expressed his “pride, gratitude and affection” for everyone at QPR but did not reveal his next move.
His next step, however, quickly became clear. The Financial Times reported that Bhatia was in talks with FSG, the U.S.-based investment group that has owned Liverpool since 2010.
An FSG spokesperson said: “An investment consortium led, managed and represented by Amit Bhatia has expressed interest in making a strategic minority investment in Liverpool Football Club.”
Liverpool valued at around £4.5 billion
The proposed investment is understood to be for a stake similar in size to the one FSG sold to Dynasty Equity in 2025.
The U.S. investment firm paid approximately £150 million for around a 3% stake in Liverpool, valuing the Premier League club at roughly £4.5 billion.
Bhatia has appointed advisers to work on the potential deal, although sources familiar with the discussions say the talks remain at an early stage.
Born in London, Bhatia studied at Cornell University and has worked in finance on both sides of the Atlantic. He is currently chairman of British construction company Breedon Group, managing director of AyBe Capital Advisors and a founding partner of property investment firm Summix Capital.
His father-in-law, Indian steel tycoon Lakshmi Mittal, is one of the world’s wealthiest individuals. Forbes estimates his fortune at approximately $31 billion.
Bhatia owns a small stake in QPR and has previously been linked with potential bids for Everton and Wigan Athletic. Earlier this year, he acquired a majority stake in Indian Premier League franchise Rajasthan Royals in a deal that valued the team at approximately $1.65 billion.
FSG retains control of Liverpool
FSG, originally founded in 2001 as New England Sports Ventures, bought the Boston Red Sox in 2002 before acquiring Liverpool for approximately £300 million in 2010.
Under FSG ownership, Liverpool has redeveloped Anfield and built a new training facility. The club has also won two Premier League titles, an FA Cup, three League Cups and the UEFA Champions League since the takeover.
FSG announced in 2022 that it was open to offers for Liverpool but ultimately chose to sell only a minority stake rather than relinquish control of the club.
The group’s partners include principal owner John W. Henry, chairman Tom Werner, president Michael Gordon, NBA star LeBron James and former Boston Red Sox general manager Theo Epstein.
Beyond Liverpool and the Red Sox, FSG owns stakes in the commercial arm of the PGA Tour and NASCAR team RFK Racing. Last year, it sold NHL franchise the Pittsburgh Penguins for approximately £1.3 billion.
If completed, the proposed investment led by Amit Bhatia would not change FSG’s control of Liverpool but would bring a new, high-profile investor group into the club’s ownership structure.