When it was revealed on Tuesday that Fenway Sports Group (FSG) had actually sold about 38% of Liverpool to 1892 Holdings, there was certainly an element of confusion. On Friday, the understanding was that the Jeff Bezos-backed consortium had purchased about a third of Liverpool, and BBC Sport was informed that speculation placing the investment in the range of approximately 30% to one-third was "directionally accurate". So why was a different figure reported just four days later?
FSG's policy is not to publicly disclose precise ownership stakes, but with numbers circulating from various outlets before the official announcement on Friday, the Boston-based conglomerate was keen to give some sense of scale and indicate that what was being reported was in the right territory, rather than simply referring to it as a 'minority investment'. When it was confirmed the minority stake purchased was closer to 40% there was a perception that the club were downplaying the investment. FSG said it was not the intention to create a misleading impression and that the guidance was in response to media reports on the range of investment and Bezos' involvement.
The group wanted to provide more context than it typically has before. The chain of events, though, has led to some at Liverpool privately asking why FSG was not more transparent, seeing the confusion as unnecessary. The 1892 Holdings group is led by British-Indian millionaire businessman Amit Bhatia and also includes billionaire Facebook co-founder Eduardo Saverin.
American businessman Bezos, founder of e-commerce giant Amazon, is the fourth-richest person in the world, with an estimated net worth of $256bn (£192bn). This marks his first foray into sports ownership, although he will not join Liverpool's board. However, Bryan Baum, Bezos' business partner and founder of venture capital firm K5 Sports - through which Bezos is investing - will join the Anfield board, alongside Saverin's wife Elaine.
Bhatia will also be on Liverpool's board as the club's vice-chairman. On Friday, BBC Sport reported the agreement included an option for the consortium to increase its investment in the future. Four days later, BBC Sport learned there was a specific option within the deal for the consortium to buy a controlling stake in the next 12 months - again raising questions about transparency.
There is an option that would allow 1892 Holdings to become majority owners within a year, though that does not involve a formal commitment. But the very inclusion of it does pose the question as to what the long-term vision is for FSG with Liverpool. Jay McKenna, chair of the supporters union Spirit of Shankly, told the Liverpool Echo, external: "One of the questions we will be asking is that we have been led to understand this change of ownership is guaranteed.
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