Supporters' group Spirit of Shankly (SoS) has written to Liverpool to stress the ownership and control of the club is "fundamental to us all" with Amazon founder Jeff Bezos part of a consortium understood to be closing in on a deal to buy a significant minority stake.
Bezos, one of the three richest men in the world, has no prior experience of investing in a sports team, although he was linked with a takeover of NFL side Washington Commanders and previously Seattle Seahawks.
His estimated personal wealth of £210 billion ($283bn) -- he also owns The Washington Post and space exploration company Blue Origin -- is more than enough to buy Liverpool outright but he is part of a group that includes Eduardo Saverin, co-founder of Facebook, and is headed by Amit Bhatia, the son-in-law of Indian steel magnate Lakshmi Mittal.
Bhatia is the only major player who has any history of operating a sports business, having stepped down as co-owner and director of Queens Park Rangers last month after 18 years.
Liverpool finished fifth in the Premier League last season. Photo by Peter Byrne/PA Images via Getty Images SoS wrote to Liverpool asking for more clarity and a meeting to discuss the potential changes.
"We reiterated that, given the events that led to FSG's (Fenway Sports Group) purchase of the club, who owns it and how they control it -- putting the interests of LFC and its supporters first -- is fundamental to us all," said a statement from the fans' group.
"The latest report of a 30% sale and the consortium set up to buy it is significant. The ownership and custodianship of our club is paramount to SoS and all supporters.
"We have witnessed similar sales at other clubs resulting in notable changes in the running of that club and football operations, leading to decisions and behaviours that many would not want to see at Liverpool."
Liverpool's owner FSG has always been open to outside investment, having seen the value of the club rocket from the £300 million it paid in 2010 to around £4.5bn now.
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In 2023 Dynasty Equity bought around a 3% share for around £120m and last month Liverpool chief executive Billy Hogan told The Athletic: "John Henry (FSG principal owner) has been very up front about the fact that if there ever was an opportunity for investment that would help the club, then they would seriously consider it.