A consortium including Amazon founder Jeff Bezos bought close to 40% of Liverpool from Fenway Sports Group (FSG).

It was initially reported that 1892 Holdings had bought about a third of the club, but – as first reported by The Athletic, external – it is actually about 38%.

There is also an option for the consortium to buy a controlling stake in Liverpool in the next 12 months, though that does not involve a formal commitment.

In a statement on Friday, FSG confirmed it had entered into a “definitive agreement” for the sale of a “strategic minority investment” to 1892 Holdings.

The group – named after Liverpool‘s founding year – is led by British-Indian millionaire businessman Amit Bhatia and also includes Bezos and billionaire Facebook co-founder Eduardo Saverin.

Bhatia will become Liverpool‘s vice-chairman and join an expanded board pending regulatory approval.

The son-in-law of Indian billionaire businessman Lakshmi Mittal, he had been a director and co-owner of Queens Park Rangers for 18 years before relinquishing his stake in the club last month.

The deal is understood to value Liverpool between £5bn and £6bn.