Liverpool F.C. owners Fenway Sports Group (FSG) announced that US private equity firm Dynasty Equity has completed a “strategic common equity minority investment” in the football club.

Financial details were not disclosed but UK media reports said the minority stake was sold for between $100 million to $200 million.

Fenway Sports Group said the “minority investment” will primarily be used to pay down bank debt incurred during the global pandemic and capital expenses made to enhance Anfield Stadium, build the AXA Training Center, repurchase Melwood training ground and, most recently, acquisitions during the summer transfer window.

It said longer term, the partnership between Dynasty and FSG “will also explore further growth opportunities for Liverpool F.C.”

Co-founded and led by Jonathan Nelson and K. Don Cornwell, Dynasty Equity is a global sports investment firm focused on acquiring minority interests in sports franchises and other related assets and rights.

“Our long-term commitment to Liverpool remains as strong as ever,” said Fenway Sports Group president Mike Gordon.

“We have always said that if there is an investment partner that is right for Liverpool then we would pursue the opportunity to help ensure the club’s long-term financial resiliency and future growth.

“We look forward to building upon the longstanding relationship with Dynasty to further strengthen the club’s financial position and sustain our ambitions for continued success on and off the pitch.”

Nelson, Dynasty Equity’s executive chairman, said: “We are honored to partner with FSG and support the remarkable legacy of Liverpool in a strategic partnership that builds upon mutual respect and deep relationships among our respective teams.”

Cornwell, Dynasty’s CEO, added, “Liverpool is one of the most iconic football clubs in the world with a passionate fanbase and significant global reach.

“Dynasty is privileged to support the Club and work alongside FSG to execute on the tremendous growth opportunities ahead.”

Morgan Stanley and Goldman Sachs served as financial advisors to FSG on the transaction.

Fenway Sports Group also owns the Boston Red Sox and the Pittsburgh Penguins.