Aug. 14 (UPI) — Billionaire Jeff Bezos purchased a minority stake in English Premier League soccer franchise Liverpool, Fenway Sports Group announced Friday.

The Reds’ majority owner said it entered an agreement to sell a stake in the club to 1892 Holdings, a consortium led and managed by Amit Bhatia, with investments from Bhatia and the Mittal Family Trusts, K5 Sports and EE Capital, the family office of Elaine and Eduardo Saverin, a Facebook co-founder.

Bezos was cited as the lead investor in the K5 Sports Fund. The purchase represents the Amazon founder’s first major investment in professional sports franchise.

Sources familiar with the deal told UPI that the sale is expected to be for about 30% or one-third of the club, which would set its valuation at between $7 and $8 billion.

“We are incredibly proud to be investing inLiverpool Football Club and to be doing so alongside FSG,” said Bhatia, who previously owned the Queens Park Rangers, a second-tier English club.

“We have the utmost respect and admiration for FSG as owners and for everything they have achieved at Anfield. To be welcomed as a partner in a club of this stature is a huge privilege. We are making this investment because we believe deeply in Liverpool and its leadership, and we look forward to supporting the club’s continued success for years to come.”

New England Sports Ventures, which later changed its name to Fenway Sports Group, bought Liverpool in 2010 for nearly $500 million. John Henry is the the principal owner of Liverpool, the Boston Red Sox and Pittsburgh Penguins.

Forbes estimates Bezos’ net worth at $271.1 billion. Elon Musk ($863.2B) and Larry Page ($282.1B) are the only people in the world with more estimated net worth on Forbes’ real-time billionaires list. Saverin’s estimated net worth is $33 billion. Henry is listed at $5.7 billion.

“Liverpool has always been built by thinking beyond one season and making decisions with the club’s long-term interests in mind,” Fenway Sports Group president Mike Gordon said.

“That approach continues to attract interest from respected investors and business leaders around the world. As we considered this opportunity, it became clear that Amit and the consortium shared our longterm philosophy and appreciation for what makes Liverpool special.

“Their experience and perspective will complement the strong foundation already in place, and we look forward to working together.”