What happened
1892 Holdings has first refusal if FSG opts to sell Group paid more than £2bn for initial 38% slice of club 1892 Holdings, the new investor in Liverpool, has first refusal to become the majority shareholder in the next 12 months should Fenway Sports Group decide to sell.
Why it matters
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Global context
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Who is affected
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What to watch next
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The consequence layer
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Three facts to keep in view
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