FSG could yet remain involved in a restructured ownership model of Liverpool.
Red Bird Capital Partners are considering upping their stake in Liverpool's owners, says the Daily Mail.
It is understood preliminary talks between Red Bird and Liverpool owners FSG have taken place.
The group paid 533million for an 11 per cent stake in FSG in 2021 - giving them an indirect stake in the Anfield club.
Red Bird are now actively exploring whether to increase their investment in a move that could earn FSG 1billion and allow them to retain ownership of Liverpool.
A source close to the firm said: "There is a growing feeling that FSG are not interested in selling Liverpool, and are increasingly drawn to the idea of selling another minority stakeholding. A further 20% sale of FSG could generate 1billion.
"FSG are also watching the sale of Manchester United with interest. If United sells for 7billion, then the market value of Liverpool could rise significantly."