Manchester United Talk banner
1 - 8 of 8 Posts

Discussion Starter · #1 ·
From BBC News.

Liverpool braced for takeover bid
By Phil McNulty
Chief football writer

Dubai International Capital - the investment arm of the Dubai Government - is ready to table a new £350m bid to buy Liverpool Football Club.

BBC Sport understands DIC has drawn up plans to take control from American duo George Gillett and Tom Hicks.

But the deal is subject to conditions which Gillett and Hicks are currently unwilling to meet.

DIC was originally thought to be ready to make an offer for Hicks' 50% share, but now favours a total buy-out.

DIC was close to buying the club in January 2007, but pulled out when Liverpool refused to agree to a deadline on the deal and moved into advanced negotiations with Hicks and Gillett.

The interest has now been seriously revived, but DIC is insistent it will not pay over the odds to buy the club, and until Gillett and Hicks agree to certain terms contained within the deal, an impasse has been reached.

Joe McLean, who is a football finance expert with accountants Grant Thornton, told BBC Radio Five Live: "The talk at the moment is that there will be some hard bargaining going on and it may take a few weeks before it is resolved."

DIC has put together a package of around £350m to put to Gillett and Hicks, which also includes taking on the debts incurred by the pair when they took control in March last year.

Gillett and Hicks' reign has caused turmoil on and off the pitch at Liverpool, and DIC has always maintained a close eye on Liverpool's situation, despite the collapse of the previous deal.

1 - 8 of 8 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.