The Saudi Arabian investment company that is headed by Prince Faisal bin Fahd bin Abdullah al-Saud has confirmed that is has reached an agreement with Liverpool co-owner George Gillett to open two sports academies and work on new motorsport circuits.
F6 confirmed the news when a spokesman for the company announced, “The memorandum of understanding will establish an exclusive partnership between F6 group, Liverpool FC and Richard Petty Motorsports team.
“His Highness Prince Faisal stated that the partnership with George Gillett’s group will be a good addition to F6. This partnership will provide a lot of investments in football, racing and sports media in Saudi Arabia and the Middle East.”
The relationship could trigger more business involvement between the group, F6, and Gillett with the Prince this week revealing he currently seeing “to buy 50% of the shares in the club which is now suffering with debts worth £245 million.”
The Prince, a member of the Saudi Arabian royal family, continued, “The transaction, upon which a decision is close to be reached, will be worth 200 to 350 million pounds.”
Reports recently have suggested that Gillett and business partner Tom Hicks are looking to sell 25% of their shares in Liverpool Football Club to acquire some much needed cash injection with plans to build a new stadium.