The Athletic reports 1892 Holdings has options to raise Liverpool stake to about 69% or 100%

The Athletic report

Simon Hughes reported in The Athletic, in a summary published by Koptalk, that 1892 Holdings has at least two options to increase its Liverpool holding once the Independent Football Regulator ratifies it as a part-owner. The agreement could allow the consortium to raise its claim to around 69% or complete a 100% buyout. The report described these as possibilities, not confirmed changes of ownership. No announcement has been made that either option has been exercised or that a further sale has been agreed.

Koptalk noted that The Athletic's report did not explain how the 69% and 100% outcomes relate to the arrangements described in August. Dailysports said a Polymarket FC post on 5 November made the same 69% and 100% claim and provided no verifiable evidence. The Athletic's report, as summarized by Koptalk, also said K5 Sports, a K5 Global fund in which Jeff Bezos is the lead investor, would initially be the largest investor in 1892 Holdings.

The August deal

FSG said on 14 August it had entered into a definitive agreement to sell a minority equity stake in Liverpool to 1892 Holdings, subject to regulatory approval. The statement gave no percentage, price or valuation. The club's statement identified the consortium as led and managed by Amit Bhatia. Liverpool's August announcement named the three groups behind the consortium: Bhatia and the Mittal Family Trusts, K5 Sports, and EE Capital, the family office of Elaine and Eduardo Saverin.

The Athletic reported approximately 38 per cent, while The Guardian reported 38 per cent and BBC Sport later reported around 38 per cent. Sky Sports reported a 38 per cent stake and said the holding was closer to 40 per cent than earlier 30-33 per cent estimates. The Guardian reported the consortium would pay just over £2bn and valued Liverpool at about £5.5bn. Sky Sports cited a valuation of more than $7bn, or £5.2bn. FSG bought the club for £300m in 2010, according to The Guardian and BBC Sport.

Earlier option reports

Koptalk noted that the possibility of a controlling stake was reported in August, with different details. The Athletic reported on 15 August that the investment agreement contained an option to purchase a controlling stake within 12 months, as an option not a commitment. The Guardian reported on 18 August that the consortium had first refusal to become majority shareholder within the next 12 months if FSG decided to sell, and that FSG was not compelled to sell more shares. BBC Sport reported on 20 August that the consortium had an option to become majority owner within a year, with no formal commitment.

Sky Sports reported that the investors have an option to become majority shareholders, active for 12 months and valuing Liverpool at around $8bn, according to CNBC. Sources stressed the existence of such an agreement is not a guarantee of any future transaction. The Guardian reported the group has an option to complete a full takeover before August 2027.

Regulatory approval and board seats

FSG said completion remained subject to regulatory approvals and other customary closing conditions. GOAL reported in August that approval should arrive inside 90 days. Koptalk noted that since 5 May 2026, anyone wishing to become an owner or senior manager at a regulated football club must first apply to the Independent Football Regulator.

Bhatia would become vice-chairman, while Elaine Saverin and Bryan Baum of K5 Global would join the board, subject to approval, according to The Guardian and BBC Sport. Bezos was described as a passive investor who would not take a board seat.