Liverpool's new minority investors hold first-refusal right to full takeover within 12 months

1892 Holdings — the Bhatia-led consortium backed by Jeff Bezos and Eduardo Saverin — holds first refusal to become Liverpool's majority shareholder within 12 months, per The Guardian. The group paid over £2bn for a 38% stake valuing the club at £5.5bn. Fenway Sports Group, in control since 2010, says the deal is not an exit strategy. FSG picks the timing; Bhatia's group gets first crack if a sale comes.