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Business

Jeff Bezos buys part of Liverpool Football Club

Business Insider ·
Jeff Bezos buys part of Liverpool Football Club

Amazon founder Jeff Bezos is part of a group of investors that bought a minority stake in Liverpool FC.

Mustafa Yalcin/Anadolu via Getty Images Jeff Bezos is part of a group that bought a minority stake in Liverpool FC.

After previously flirting with sports ownership, Bezos is now in rare company.

The Amazon founder is investing alongside a steel magnate and Facebook cofounder Eduardo Saverin.

Jeff Bezos has entered his sports ownership era.

On Friday, Liverpool Football Club, one of the English Premier League's so-called "Big Six" clubs, announced that Fenway Sports Group sold a minority equity stake in the franchise to 1892 Holdings, which includes K5 Sports, a fund where the Amazon founder is the lead investor.

This is the first time Bezos has been publicly identified as owning a stake in a major sports team, placing him in rare company among his fellow billionaires and business titans.

The 1892 group is managed by Amit Bhatia, the son-in-law of steel magnate Lakshmi Mittal.

Bloomberg estimates Mittal's net worth to be $42.6 billion.

Bhatia was previously associated with Queens Park Rangers, where he served as director and co-owner of the fellow English football club.

EE Capital, the family office of Elaine and Eduardo Saverin, who co-founded Facebook , was also involved in the purchase, according to Fenway Sports Group's press release.

According to The New York Times, the minority stake values Liverpool at $7 billion.

1892 Holdings purchased 30% of the club, according to The Guardian.

"Liverpool has always been built by thinking beyond one season and making decisions with the club's long-term interests in mind.

Read the full article on Business Insider ›

5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on www.businessinsider.com — the content belongs to Business Insider.

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