Fenway Sports Group has confirmed that a consortium led by British-Indian businessman Amit Bhatia is in discussions to acquire a strategic minority stake in Liverpool Football Club, a move that could value the Premier League champions at more than $6 billion. The talks, disclosed by the club’s American owners on Tuesday, remain at an early stage and no agreement has been finalised. Should a deal proceed, it would follow the template set in 2023, when FSG sold a small shareholding to US private equity firm Dynasty Equity.

Bhatia’s approach was made public on the same day he severed an 18-year association with Championship side Queens Park Rangers, resigning from the board and transferring his shares to majority owner Ruben Gnanalingam. The 46-year-old former Morgan Stanley investment banker, who now runs the multi-asset firm Swordfish Investments and chairs building materials group Breedon, is married to Vanisha Mittal, daughter of ArcelorMittal executive chairman Lakshmi Mittal. Viewed from Mumbai, the consortium draws on one of India’s most formidable industrial fortunes, with the Mittal family already holding a controlling stake in the Rajasthan Royals IPL franchise and, since 2007, a long-standing, if now concluded, involvement in English football through QPR.

FSG purchased Liverpool for £300 million in 2010, when the club was on the brink of administration. Under the ownership group led by John Henry, the team ended a 30-year wait for the English league title in 2020 and added a record-equalling 20th championship in 2024, while also lifting a sixth European Cup in 2019. Commercial revenues have climbed in parallel, surpassing £700 million in the 2024–25 season, according to club figures. That on-field and financial resurgence has transformed Liverpool into one of world sport’s most recognisable brands, a trajectory that analysts in London note has made a minority stake an attractive proposition for investors seeking exposure to football’s premium tier without the complexities of full control.

The Bhatia consortium’s interest arrives amid a wave of high-value transactions in English football, including the £2.5 billion takeover of Chelsea in 2022 and Sir Jim Ratcliffe’s acquisition of a minority stake in Manchester United a year later. FSG, which also owns the Boston Red Sox and recently sold the Pittsburgh Penguins, has signalled it intends to retain majority control while using selective equity sales to fund infrastructure and squad investment. The next concrete step will be whether the consortium formalises an offer; Bhatia’s exit from QPR removes a regulatory obstacle, but the discussions are described by people familiar with the matter as preliminary.