Liverpool FC owner Fenway Sports Group (FSG) has successfully sold down its stake in the club to a US private equity firm, Dynasty Equity.
FSG confirmed the deal but not precise financial details. It was reported by media to be between US$100 million and US$200 million (£82-164 million).
The Boston-based sports group, which last November was thought to be putting the club up for sale when it said it was open to selling shares, will use the funds to reduce levels of bank debt, which had become elevated by investment during the pandemic and also included a new stand at the club's Anfield stadium, build its Axa training centre, repurchase its training ground and acquire players during the recent transfer window.
FSG, which acquired the Premier League club 12 years ago for £300 million, held talks with several potential investors and chose New York-based Dynasty, whose involvement is reported to be "small and passive", according to the Guardian.
In November, FSG's principal owner John W Henry said the firm would "consider new shareholders" if the "right terms and conditions" were met.
Bringing in Dynasty does not affect the operation of the club or represent the first step towards a sale, though the pair said that in the long term they will "explore further growth opportunities" for the England Premier League club.
“Our long-term commitment to Liverpool remains as strong as ever,” FSG president Mike Gordon said in a statement.
“We have always said that if there is an investment partner that is right for Liverpool then we would pursue the opportunity to help ensure the club’s long-term financial resiliency and future growth.”
Dynasty, according to its website, is a global sports investment firm focused on acquiring minority interests in sports franchises and other related assets and rights.
Its involvement continues the trend of increasing US private equity interest in the Premier League.
Everton's owner recently agreed a sale to Miami-based private equity company 777 Partners, which also owns stakes in clubs in Italy, Spain, Germany and France, along with commercial rights for the Argentinian and Brazilian football leagues.
Morgan Stanley (NYSE:MS) and Goldman Sachs (NYSE:GS) served as financial advisors to FSG on the deal.
Meanwhile, Manchester United, listed in New York, could reportedly soon to receive a sweetened bid from Ineos owner Jim Radcliffe as he attempts to break the deadlock in the long-running saga.
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