Liverpool could be on the brink of a significant change in ownership structure, with a consortium led by Amazon founder Jeff Bezos reportedly closing in on a minority stake in the club.

Reaction among supporters has been split. Some are wary of any fresh investment, with memories still vivid of the Tom Hicks and George Gillett era, when the club was left in financial ruin before being sold to FSG in 2010. That history has naturally raised questions about the motives behind the proposed deal.

Others see the reported $1.9 billion injection of funds in a different light, believing it could strengthen Liverpool’s position in the market and allow for more ambitious transfer activity.

On Monday, it emerged that Bezos’s consortium was “closing in on a deal” to buy into Liverpool, with talks said to have “accelerated quickly”. There is no confirmed timetable, but the report suggests the matter could be wrapped up this week or next.

Even so, the timing would not alter Liverpool’s business in the current window. The club are already being linked with further moves after bringing in Jérémy Jacquet ($80 million), Victor Muñoz ($46 million) and Ronald Araújo on loan, yet more additions are still viewed as necessary for Andoni Iraola’s first season in charge.

Supporter frustration has been building over the lack of activity, although Liverpool are currently working on a major deal for Bradley Barcola that could rise to nearly $200 million. They are also said to be interested in his Paris Saint-Germain teammate Ibrahim Mbaye, with more recruitment in other positions still possible before the Sep. 1 deadline.

The key point, though, is that new investment does not automatically unlock extra spending power. The Premier League’s Squad Cost Ratio rules restrict spending according to revenue, not ownership wealth, so the money available in the transfer market is not dictated by who owns the club.

“The deal could be a straight share sale by FSG to the new group, in which case there would be no financial implications for the club itself,” soccer finance expert Kieran Maguire told BBC Sport.

Spirit of Shankly have also asked for clarity, questioning what a 30 percent stake would bring in return and whether the consortium would have any role in control or board representation. Their concern, they say, is whether the proposed buyers have the club’s best interests at heart.

Manchester United and Chelsea have both reportedly declined the chance to sign Arsenal left back Myles Lewis-Skelly, leaving the teenager’s situation in north London looking increasingly uncertain.

Lewis-Skelly has already shown enough to attract attention. He started the Champions League final, but the match ended in heartbreak for the newly crowned English champions. Even so, Arsenal’s long-term picture still appears positive, though perhaps less so for the 19-year-old.

Recent reports said Arsenal placed a $60.8 million (£45 million) valuation on the England international and made him available to United and Chelsea. According to The Telegraph, both clubs quickly turned down the opportunity. There is also a “strong feeling” the defender has been offered to other clubs as Arsenal continue to move their homegrown talent, with any departure producing pure profit.

Chelsea’s refusal is understandable given their recent business. Marc Cucurella has left the starting left-back role this summer, but the club have already secured Pep Chavarría as his replacement. The former Rayo Vallecano player signed a five-year deal on Wednesday and joined Xabi Alonso’s project for a fee of around $28.8 million. Chelsea have now spent more than $400 million this summer, bringing in Morgan Rogers, Maxence Lacroix and Geovany Quenda, among others.

United remain less active in the market, though they are still looking for a left back and a third midfielder after already signing Andrey Santos and Youri Tielemans. Lewis-Skelly could have covered both positions, but the club seem to be waiting on Newcastle United left back Lewis Hall instead. They have also been linked with Real Madrid’s Eduardo Camavinga, who can operate in midfield and at left back.

Lewis-Skelly’s breakout 2024-25 season was followed by a reduced role last term. Mikel Arteta preferred Piero Hincapié at left back, while Riccardo Calafiori also took minutes in that area. That pushed the teenager into midfield, where he even kept Martín Zubimendi on the bench for the Champions League final and started alongside Declan Rice.

Liverpool’s first preseason under Andoni Iraola has already exposed a familiar issue: the team’s back line remains a concern.

There are some obvious reasons for that. Key personnel have been unavailable, but the defensive problems are not new. Last season under Arne Slot, a lack of depth and quality left Liverpool with one of the loosest defensive records in modern club history.

That is why Iraola has needed help this summer. The departures of Ibrahima Konaté and Andy Robertson increased the pressure, while the loan signing of Ronald Araújo from Barcelona offers a partial solution. Jérémy Jacquet has also joined after a transfer agreed in January.

Even so, doubts remain over the overall standard of the defensive group, and the manager faces difficult decisions before the Premier League opener away at Newcastle United.

The situation on the right side is especially troubling. Conor Bradley is still out for the foreseeable future after the knee injury he suffered last January, and Joe Gomez is once again dealing with fitness problems. That leaves Liverpool with a recurring issue at right back.

Araújo should help, even if his natural role is at centre back. He has played at right back before, and his pace and power make him a viable option if Iraola does not trust the out-of-form Jeremie Frimpong or the underwhelming Calvin Ramsay.

At centre back, though, Araújo may be needed even more. Virgil van Dijk, now 35, played almost every match last season and remains hugely important, although he is not the same defender he once was. Gomez is injured too, while Giovanni Leoni is still recovering from the ACL tear suffered on his debut last September and is unlikely to play meaningful minutes before winter.

That puts pressure on Jacquet, who has his own injury concerns after being out since last February with shoulder and knee problems. He is expected to feature in the final preseason match against Como next weekend, but Iraola will need to handle him carefully.

Left back looks much clearer. Milos Kerkez is first choice after Robertson’s exit, with Kostas Tsimikas providing backup after a disappointing loan at Roma in 2025-26.

There is also no debate over the goalkeeper position. Alisson missed much of 2025-26 through injury, but remains one of the best in the world when fit and is clearly preferred to Giorgi Mamardashvili. Kerkez’s rise and Van Dijk’s leadership give Liverpool some structure, yet the balance of the defence still demands careful management.