The son-in-law of one of the world's richest men has resigned from Queens Park Rangers and is now in talks to buy a significant minority stake in Liverpool – a deal that values the club at £4.5bn.
Fenway Sports Group confirmed on Tuesday that a consortium led by British-Indian businessman Amit Bhatia has expressed interest in making a "strategic minority investment". According to the Guardian, a sale of 30% of the club is under discussion, with an offer of approximately £1.35bn on the table. Talks are believed to have been ongoing for three months.
“FSG in talks to sell 30% Liverpool stake to Amit Bhatia consortium for £1.35bn after Bhatia quits QPR.”
Bhatia, 46, stepped down as a director and co-owner of QPR after 19 years. He said: "QPR has been a deeply important part of my life, and of my family's life… I step back from my formal responsibilities with pride, gratitude and affection." His consortium has the backing of his father-in-law, Lakshmi Mittal, the Indian steel magnate whose family fortune is estimated at more than £26bn by Forbes.
FSG, which bought Liverpool for £300m in 2010 when the club was on the verge of administration, is poised to secure a spectacular return. The proposed deal would follow a similar structure to the 2023 minority stake sale to Dynasty Equity. Bhatia, a former Morgan Stanley investment banker, founded a construction company that is now the UK's largest independent building materials business, employing over 5,000.
Bhatia's wedding to Vanisha Mittal in 2004 was a six-day ceremony in France costing over $55m, recognised by Guinness World Records as the most expensive of all time.
Liverpool, under new head coach Andoni Iraola, are in the US for a pre-season tour starting with a game against Sunderland in Nashville on Saturday. The deal has not yet been finalised.