New Delhi: The Indian billionaire Mukesh Ambani has entered the bidding for English football club Liverpool FC, the Mirror newspaper reported on Sunday.
According to the newspaper, the club’s current owner Fenway Sports Group (FSG), which acquired it in October 2010, has placed it up for sale. To help FSG sell the team, Goldman Sachs and Morgan Stanley have been given the job.
The FSG are prepared to sell the club for 4 billion British pounds, according to The Mirror.
Reliance Industries (RIL), which is led by Ambani, has a substantial stake in Indian sports. Along with the All India Football Federation, the group also manages the Indian Super League and owns the Mumbai India squad in the Indian Premier League.
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RIL has recently joined the Tata family in investing in football, along with other corporations including JSW, Hero MotoCorp, and the Adani group. For the past 35 years, the Tata group has been in charge of the prestigious Tata Football Academy in Jamshedpur.
RIL has partnered with the Indian Olympic Association and the Athletics Federation of India in addition to football and cricket to support athletes competing in a variety of competitions, such as the Commonwealth, Asian, and Olympic Games.
As part of the association, the organisation will also erect the first-ever India House at the Paris Olympics in 2024.
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According to a recent GroupM analysis on sports sponsorship in India, non-cricket sports like football and kabaddi made for 12% of the Rs 9,500 crore spent on overall sports advertising in 2021.
Approximately 88% of all sports advertising dollars in the nation are spent on cricket. The percentage of non-cricket sports has increased from 8% before the outbreak. The first wave of the epidemic struck in 2020, which also witnessed a dip in national spending on sports sponsorship.
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