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Liverpool Echo

Sport

Dave Powell

Liverpool sale: 13 potential buyers as PSG owners QSI takeover stance explained

FSG Chelsea Stephen Pagliuca Steve Ballmer David Blitzer Qatar Saudi Saudi Arabia Echo Conor McGregor

Liverpool owners Fenway Sports Group have opened the door to a potential sale of the club.

FSG, who have been at the helm at Anfield for the past 12 years, have expanded their search for investment, something they tasked major American banks Goldman Sachs and Morgan Stanley to lead on last year, to welcome expressions of interest around a full sale of the Reds.

Since that all came to light, The Boston Globe, a newspaper privately owned by FSG principal John Henry, reports that the Reds owners are now leaning towards a partial sale of their ownership as opposed to a full takeover, with the club claimed to be in discussions with "an array of suitors" around either a full sale or equity purchase.

Sources told the Globe that a partial equity sale was the most likely outcome for FSG, with the desire to raise capital for both "player acquisition and capital improvements" at the forefront of their desire to explore their options in the market. One suggestion is that a minority partner could arrive on board and then turn their position into one of complete control further down the line. But the report also stated that FSG do remain open to offers of a full takeover.

In December the ECHO learned via well-placed sources in the US that it was the preference of FSG to seek a "strategic partner" that could help provide them with scalable capital and expertise to help grow the business and revenues to greater supported sustained investment in the team. Such a partner could, sources said, accrete a minority investment over time to take a controlling stake further down the line. The preference of Henry is, sources told the ECHO, to retain the Reds, although offers above and beyond the $4bn (£3.3bn) valuation would likely be enough to spark a conversation about a changing of the guard.

So here are the names who have been linked, and those who have tried to link themselves, with a bid for Liverpool.

QATAR SPORTS INVESTMENTS

The owners of Paris Saint-Germain are said to be intent on making some ambitious moves in 2023 on the back of the Qatar World Cup.

Qatar Sports Investments (QSI) are a subsidiary of Qatar Investment Authority, the sovereign wealth fund of the gulf state, and have owned French side PSG since 2011, spending enormous sums over the past 12 years to try and improve not only the fortunes of the team but also to create a global lifestyle brand with the aid of their tie-in with Nike's sister company Air Jordan.

According to multiple reports, which were led by CBS Sports, QSI chairman and president and CEO of PSG, Nasser Al Khelaifi met with Tottenham Hotspur chairman Daniel Levy in London last week to discuss a number of matters, including the potential for QSI to acquire a minority stake in the North London club.

A Bloomberg report had suggested that both Liverpool and Manchester United were in the sights of QSI, but ECHO sources corroborated the stance of numerous media outlets to state that no talks had taken place with the Reds hierarchy, nor were any slated to be held in the near future. The same report also raised the possibility of a full takeover by QSI, something which won't be happening as it would require QSI to divest their controlling interest in PSG, something that they have no plans on doing given they are actively pursuing the next major phase of their plan in Paris, which is the construction of their own purpose-built stadium having been tenants at the Parc des Princes for the last 40 years.

Two clubs whose ownership has 'common control' are forbidden to compete against one another according to UEFA regulations. In 2018, Red Bull-owned RB Leipzig and Red Bull Salzburg were pitted against each other in the Champions League, something that saw major changes behind the scenes having to take place in order to satisfy UEFA that clear separation between the two teams existed and that "no individual or legal entity had anymore a decisive influence."

While no talks have been held or are planned, QSI, hypothetically, could pursue a minority stake where they had no influence, but they won't be making a takeover bid for Liverpool.

QATAR & SAUDI ARABIAN PRIVATE SECTOR

In December there were links made with unnamed private sector firms from Qatar and Saudi Arabia, with the Daily Mail that talks had taken place.

Those reports arrived hot on the heels of comments made to BBC Sport by Saudi sports minister Prince Abdulaziz bin Turki Al Faisal who, when quizzed around interest in Liverpool and Manchester United from the region said that there was a lot of "interest and appetite".

"From the private sector, I can't speak on their behalf, but there is a lot of interest and appetite and there's a lot of passion about football," said Al Faisal.

"It's the most-watched league in Saudi and the region and you have a lot of fans of the Premier League. We will definitely support it if any [Saudi] private sector comes in, because we know that's going to reflect positively on sports within the kingdom.

"But if there's an investor willing to do so and the numbers add up, why not?"

A price point of £3bn was highlighted in the Mail, the ECHO understanding that FSG had been seeking £500m more than that figure to open up any dialogue with would-be suitors.

CBS Sports' Ben Jacobs, who spent several years as a journalist in the Middle East, claimed that interest was at the "thought process" stage and that nothing had progressed beyond that.

Meanwhile, Jordan-based publication Albawaba had claimed that former Saudi Arabia international Saeed Al-Owairan has publicised plans for a possible Saudi-Qatar combined offer for Liverpool.

Speaking on the Egyptian programme Remontada, Albawaba verified that Owairan confirmed the construction of a partnership between the two Middle-Eastern countries. However, no additional details were revealed on how a potential bid for the 19-time league title winners could look.

HARRIS BLITZER SPORTS & ENTERTAINMENT

David Blitzer and Josh Harris who, through their Harris/Blitzer Sports and Entertainment (HBSE) business were in the race to acquire Chelsea earlier this year.

The ECHO learned from US sources earlier this month that HBSE are 'mulling their options' over any potential move, although other sources close to the situation doubt whether any interest will manifest into a successful bid for the Reds.

HBSE have a track record in sport through ownership of the Philadelphia 76ers, while Blitzer and Harris both own 18 per cent each of Crystal Palace. Any deal to move on Liverpool would require them to divest any interest that they have in Palace, although Blitzer, when speaking at the Sportico Invest in Sports conference in New York last month, where the ECHO were present, hinted at their approach if a major Premier League asset became available.

"At the end of the day I love Crystal Palace, and people who know me well will know I love Crystal Palace," said the 53-year-old, an extremely well know figure in investment circles in the US.

"But there are a handful of teams/brands out there on a global basis, and Chelsea is one of them. The opportunity to invest in that particular situation with a very small number of people, frankly, given it was a complicated situation, we were comfortable giving that our best shot.

"We would have had to divest our interest in Crystal Palace had that come through. If that had happened it would have been a really sad day in one sense, but again back to the investment part it would have been a really interesting investment in terms of what's out there for Chelsea. Then I would have probably had to hide a little bit when I went to London."

There are also strong links between HBSE and Liverpool. Harris and Blitzer's consortium that sought to acquire Chelsea this year had former British Airways chief Sir Martin Broughton, the man who held the early chairmanship at Liverpool under FSG and was a key player in their acquisition of the club from Tom Hicks and George Gillett.

Wall Street financier Michael Klein was also part of the HBSE/Broughton bid for Chelsea, Klein having been recommended by Broughton for that chairman's role and having been a major factor in facilitating the deal for FSG to take over the club. There are strong ties that exist within the group to the current ownership and the club itself.

Blitzer, through his Global Football Holdings (GFH) investment vehicle, has ownership stakes across European football already aside from the investment in Palace.

Earlier this month GFH took control of Danish Superliga side Brondby IF, while they also have stakes in Spanish side AD Alcorcon, German outfit FC Augsburg and Dutch second tier side ADO Den Haag.

MUKESH AMBANI

Indian billionaire Ambani had been involved with an attempt to purchase Liverpool back in 2009 and the Mirror reported earlier this month that the 65 year old was in talks with FSG top brass over a move to acquire the Reds.

That claim was something rejected by representatives of Ambani's Reliance Industries firm, who were reported via the Indian media outlet ABP News to have branded the reports as 'fake'.

Ambani, the world's eighth richest man with a fortune estimated to be in the region of £90bn, has not made a public comment on any potential move for Liverpool. The ECHO reached out to his representatives at Reliance but requests for comment went unanswered.

The ECHO has since learned from sources that any interest in Liverpool from Ambani "has long since gone away".

SIR JIM RATCLIFFE

As soon as it was revealed that FSG were open to selling the Reds the name of Ratcliffe was immediately linked.

The 70-year-old, founder of the multi-billion pound chemicals business INEOS, was part of the bidding process for Chelsea when they hit the market earlier this year before the Todd Boehly-led consortium won through in a £2.5bn deal.

Ratcliffe distanced himself from any Liverpool link, the Oldham-born Manchester United fan instead expressing his wish to place more emphasis on the job that INEOS had on their hands as owners of French Ligue 1 side OGC Nice.

Ratcliffe, who is worth an estimated £11bn, has performed something of a U-turn, the Telegraph claiming that he will show his hand with a bid for Manchester United after the Glazer family placed the club up for sale, although with some reports of the unpopular owners wanting as much as £7bn for the club, Ratcliffe would have to dig deep to acquire his boyhood club.

STEVE BALLMER

US billionaire Ballmer, 66, already holds sports team ownership through his majority stake in the Los Angeles Clippers NBA team that he acquired back in 2014.

His net worth is pegged at around £66.5bn, accrued largely through the stock options that he held in Microsoft, the company where he served as CEO between 2000 and 2014.

An engaged owner, often found courtside at the Clippers, Ballmer has been a name linked from early on, although any Reds fans hoping that he will be the next owner of Liverpool may be disappointed.

Ballmer, according to LA Times reporter Sam Farmer, has no interest in adding any more sports teams on top of the Clippers, something that Ballmer told Farmer earlier this year, citing a lack of time available to invest in growing his sporting portfolio any further.

STEPHEN PAGLIUCA

Another name that was in the running to takeover at Chelsea was that of Boston Celtics and Atalanta owner Stephen Pagliuca.

Like Liverpool's current ownership group, Pagliuca has his roots in Massachusetts, the 67-year-old serving as co-chairman of the investment fund Bain Capital, a firm that manages over £150bn in assets globally.

Pagliuca made the shortlist of buyers that were whittled down for Chelsea before losing out. He is understood to have retained an interest in a Premier League investment opportunity moving forward. Attempts by the ECHO to contact Pagliuca and Bain Capital have gone unanswered thus far.

MUMTALAKAT HOLDINGS

As soon as it emerged that FSG were open selling the Reds there was the expectation that money from the Middle East would look the way of Liverpool in the way that it did for Manchester City and Newcastle United.

With Newcastle having also been taken over last year by the Saudi Arabian Public Investment Fund (PIF) there were swiftly links made with other sovereign wealth funds in the Gulf states.

One early name to be linked was that of Mumtalakat Holdings, the sovereign wealth fund of Bahrain which has around £15bn of assets under management.

According to CBS Sports, Mumtalakat Holdings have denied interest and stated that they have no intention of pursuing a deal for the club.

DUBAI & UNITED ARAB EMIRATES

Early on reports had surfaced in the Middle East around interest in the Reds from consortia in Dubai and the UAE.

The sovereign wealth fund of the UAE, the Emirates Investment Authority, were linked, while Dubai International Capital, the international investment arm of Dubai Holdings, which serves as the sovereign wealth fund of the government of Dubai and its ruling family, were also placed as a name in the frame.

Both linked wealth funds, per CBS Sports, were quick to deny any interest in a Reds takeover bid.

REDBIRD CAPITAL PARTNERS

When RedBird arrived as a minority partner in FSG back in March 2021, taking a 11 per cent stake in the company for a $750m sum, there was some suggestion that it may be the start of a longer play for them to acquire the Reds.

Gerry Cardinale, founder and managing partner of New York-based RedBird, which manages over $7.5bn in assets globally across the sports, finance and energy sectors, was pressed on any future interest in being owner of Liverpool when he appeared at the Financial Times' Business of Sports Football Summit in the US last year.

Cardinale, who stressed at the time that the deal was never concluded with any intention to own Liverpool outright, said: "No, I definitely would not exclude it as it would be a privilege but I think that Liverpool is in fantastic hands with the current group.

"We are there to support and play a supporting role where we can but that is a phenomenal team from ownership and management all the way down."

But the landscape has changed considerably since then with RedBird, who already owned French side Toulouse, having taken a controlling interest in Italian giants AC Milan back in September, clinching a £1.1bn deal.

There would be a clear conflict of interest where UEFA were concerned in owning two Champions League powerhouses, and the ECHO has been told that there is no interest on RedBird's part to throw their hat into the ring or divest any interest in Milan, where they see a long-term vision that involves the building of a new stadium. Speaking to Australian media earlier this month, Cardinale confirmed that stance.

US FAMILY OFFICES

A look at the runners and riders in the hunt for Chelsea would give some clues as to those willing to chance their arm with a Liverpool bid.

Two confirmed bidders for Chelsea, who took part in the race, were the Chicago Cubs owners the Ricketts family, who had had partnered with US billionaires Ken Griffin and Dan Gilbert for their bid for the Stamford Bridge club.

They dropped out having been unable to agree on the final make up of the deal, which was a cash bid, and have since ruled themselves out of any potential interest in Liverpool.

Another name linked that was also in the Chelsea hunt is that of Woody Johnson, the multi-billionaire US owner of the New York Jets NFL team.

Johnson, 75, served as US Ambassador to the United Kingdom under former president Donald Trump between 2017 and 2021. During his time in the role he visited Liverpool in February 2020 to see the economic benefits of the city, calling it the "New York City of Europe".

Johnson, while linked early on, is an unlikely candidate to take on Liverpool.

LEBRON JAMES

Basketball icon, billionaire entrepreneur and self-confessed Liverpool fan, James, 37, was a two per cent shareholder in the Reds from 2011 until the RedBird deal closed in March 2021 when he accreted that shareholding into one per cent of FSG's entire operation, a deal that saw him make more than £40m on his initial £4.7m investment.

He remains an active NBA player and is aiming to play with his son, Bronny, in the league before he calls time on his career on the hardwood.

While some outlets had mentioned James as a potential bidder there is next to no chance of that happening, the Los Angeles Lakers star a part of FSG's plan moving forward and pegged to lead an NBA expansion franchise in Las Vegas that the Reds owners want to acquire in the next two years. He won't be owning Liverpool.

CONOR MCGREGOR

The 34-year-old UFC star claimed he had requested information around the sale when asked by a Twitter user after the news of FSG's openness to selling the club had emerged.

McGregor wrote : “I would love it! I requested my information on this, yes.

“Soon as I heard. What a turn of events! What a club!”

The reality of the situation is that McGregor won't be getting anywhere near a Liverpool purchase. While the Irishman is a wealthy man from his endeavours both in the octagon and in the boardroom, selling his stake in whiskey brand Proper No.12 in a £120m deal to Proximo Spirits in 2021, he falls way short of the kind of money it would take to get hold of a club like Liverpool.

His net worth is reported to be around £135m, a long way off the likely £3.5bn price tag that would spark a conversation with FSG. A deal that won't happen but a decent bit of PR, no doubt.

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