Liverpool set for new investor

Liverpool co-owner Tom Hicks has instructed global financial services giant Merill Lynch to find a new investor in the club, with a 25% up for grabs, according to reports.

Hicks and business partner George Gillett are looking for a cash injection into the club to help get plans to build the club’s new 60,000 seater stadium back underway.

Hicks is looking towards the Middle East for investors and it is thought will be looking for £125million for the 25% share in the club, that would keep Hicks and Gillett as majority shareholders.

The news comes in the same week that both Hicks and Gillett, and the club’s managing director Christian Purslow have all publicly expressed their delight at the club’s good finances and the announcement of an £80million shirt sponsorship deal with banking giants Standard Chartered.