Dubai Investment Capital have confirmed this morning that they are in advanced talks to purchase a stake in Liverpool FC. They have been in ongoing talks with co-owners Tom Hicks and George Gillett for weeks, if not months, despite the false denials from Hicks.
The size of the stake which DIC are in talks to purchase has not been announced officially but seems to be for 49% of the club following Hicks’ unwillingness to relinquish control in the club. The likely outcome, at least in the immediate future, is for DIC to purchase 49% of Gillett’s share with Hicks purhasing the other 1% and thus Hicks gaining control of the club.
Some sources in the media state DIC are confident they will gain full control of the club in future, but for now have settled for allowing Hicks to remain in control due to the complicated nature of the takeover and talks which have gone on in recent weeks.
DIC are set to be the men with the money behind the club though and are likely to be put money available for manager Rafa Benitez this summer, as well as aid the building of the new stadium on Stanley Park.
The Telegraph explain:
According to Amanda Staveley, head of PCP Capital Partners, the private equity firm handling negotiations on behalf of DIC, Gillett agreed the deal in principle late on Friday.
“The legal documents have yet to be signed, but we’re really pleased,” said Staveley. “Of course we want to own Liverpool outright but this large stake is a great start.”
DIC now need to agree on a partnership with Gillett’s co-chairman and fellow American, Tom Hicks, who has made it clear he has no intention of giving up his control of Anfield.
Those talks between DIC and Hicks’ team are expected to take place in Dubai today or tomorrow as the two parties discuss how they can work together to run the football club – something which proved too difficult for Hicks and Gillett.