Jeff Vinik has stepped down from the Liverpool board.
The Liverpool Echo says Vinik had been appointed to the Anfield boardroom in 2010 after the club was bought by a consortium headed by fellow directors John Henry and Tom Werner.
Vinik, who owns ice hockey team Tampa Bay Lightning and American football's Tampa Bay Storm, is estimated to be worth more than $500m and made his name running investment funds.
A club spokesman said: "We can confirm that Jeff Vinik has decided to step down as a board member of Liverpool FC, due to a desire to focus on his investment management and sporting interests.
"We would like to thank Jeff for his valuable contribution and wish him well for the future."