Fenway Sports Group have confirmed that a consortium of investors, led by British-Indian businessman Amit Bhatia, have approached them about a significant minority stake in Liverpool.
Bhatia is the son-in-law of Lakshmi Mittal, who heads up ArcelorMittal, the globe's biggest steel and mining firm, and Fenway Sports Group confirmed that active talks are underway over what has been characterised as a "significant minority stake". Bhatia, the son-in-law of the Indian billionaire businessman Lakshmi Mittal, was director and co-owner at QPR for 18 seasons but stepped down from the board and relinquished ownership of the club on Tuesday afternoon. As mentioned, Bhatia departed QPR on Tuesday by transferring his ownership to majority owner Ruben Gnanalingam. He is said to have done this to avoid holding a stake in two clubs, which owners are not allowed to do in English football.
Amit Bhatia is a former investment banker who worked for Morgan Stanley on Wall Street before becoming an entrepreneur. He operates businesses in construction, real estate, and private equity. The construction company he founded at 32 is now the largest independent building materials business in the UK with more than 5,000 employees, and his real estate firm builds homes, student housing and offices across the country. Vanisha is the daughter of Indian steel magnate Lakshmi Mittal, whose net worth has been estimated at more $30bn (£22bn).
No deal is currently in place and discussions remain at a preliminary stage, according to sources with knowledge of the situation.