April 28, 2023, 01:32 PM
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GIC Pte Ltd, the sovereign wealth fund that manages Singapore's foreign reserves, will not be buying any stake or making any investment in Liverpool Football Club, which play in England's Premier League.
That is the scuttlebutt according to the Liverpool Echo, a media outlet based in the city of Liverpool in the UK.
FSG in
Fenway Sports Group (FSG), the behemoth American consortium that owns the club, announced in November 2022 that they would put up the six-time European champions for sale.
FSG bought the club from the previous unpopular owners, Tom Hicks and George Gillette, in October 2010 for £300 million.
By 2021, following a period of sporting success that saw Liverpool win their first Premier League title, FSG reportedly rejected a £3 billion offer from an unnamed bidder from the Middle East.
In February 2023, FSG's billionaire principal owner John Henry stated that it was not looking to put Liverpool up for sale, but seeking investment into the club instead.
Rumours swirled on social media that Singapore's GIC would be one of the investors.
Completely unsubstantiated rumours like this one surfaced:
NEW
— Eamonn (@EamonnFarrell11) April 11, 2023
I have been told that the final numbers in the FSG and GIC Private Limited agreement are as follows
GIC will acquire a 33% stake in LFC (LFC only) for £1,320,000,000 (£4bn valuation)
Deal will be announced at the end of the season as previously stated
Much was made of the fact that Liverpool would be visiting Singapore in the summer of 2023 for a pre-season match.
The fevered logic, so it went, was that the visit would coincide with a big announcement that GIC had bought a stake in the club.
However, it was always highly unlikely at best, as GIC makes investments in mainly financial services and technology.
The Echo cited unnamed "well-placed sources" who said there is "no truth" to the rumours.
Mothership has contacted GIC for comment.
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