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Are Gamal and Alaa Mubarak Buying Liverpool FC?

Misbar's Editorial Team Misbar's Editorial Team
9th November 2022
Are Gamal and Alaa Mubarak Buying Liverpool FC?
Fenway Sports Group did not mention buying Liverpool (Getty)

According to social media users and pages, Alaa and Gamal Mubarak recently announced plans to acquire Liverpool FC through the Hermes Holding Company.

The sons of former Egyptian leader Hosni Mubarak invest in Hermes, which is registered on the Egyptian Stock Exchange.

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On Monday, November 7, news websites reported that the U.S. based Fenway Sports Group FSG announced that the football club was up for sale and that Goldman Sachs and Morgan Stanley banks were handling the club's evaluation process.

Other international reports claimed that the Fenway Group is selling stakes in the Premier League Club, citing reports that it has received offers from potential buyers and investors. However, nothing about selling the club was mentioned.

The group previously stated that rumors about changes in ownership of the English Premier League club had recently surfaced.

“There have been a number of recent ownership changes and rumors of ownership changes at EPL clubs, and inevitably we are asked about Fenway Sports Group's ownership in Liverpool,” the company said in a statement to Reuters.

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Several unnamed parties have expressed interest in becoming FSG shareholders, according to a Reuters report.

However, they did not specify whether Hermes Holding was among those interested in becoming shareholders in the club. 

The company denied interest in investments like buying Liverpool, according to Cairo 24.

Is the Mubarak Family Connected to Hermes?

Hermes Holding also stated that Alaa Mubarak purchased an 18% stake in the company in 1996. 

The holding denied any link between the brothers and the group since the Egyptian revolution.

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According to the website, the company is listed on the Egyptian Stock Exchange and is owned by other investors and shareholders.

The Credit Suisse leak, which was investigated by 46 media outlets, revealed that Gamal Mubarak owned the Bullion Company in Cyprus. The file revealed that Gamal Mubarak had stakes in other companies, including Hermes Direct Investment, through his company.

According to investigations, this company was part of a network of secret entities set up by the Mubarak brothers in the British Virgin Islands.

Middle East Eye reported that the largest balance in the Mubarak brothers' Credit Suisse accounts was over 277 million Swiss francs ($302m).

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The leak revealed that the company's investments were worth billions of dollars.

However, the family may face criticism if the brothers buy the English club after sanctions and accusations from Swiss and EU courts.

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Misbar’s Sources



New York Times

Cairo 24

The Guardian

Middle East Eye

Almasry Alyoum