Liverpool set to sell 50% of club says reports in Saudi Arabia

Liverpool co-owners Tom Hicks and George Gillett are on the verge of a deal to sell 50% of the club to Saudi Arabian billionaire Prince Faisal bin Fahd bin Abdullah al-Saud.

The Prince was a guest of Gillett’s during Saturday’s 6-1 victory over Hull City at Anfield, although Gillett insists it is merely to strike a deal over establishing sports academies in the Middle East.

However Saudi newspaper Al-Riyadh quotes the price as saying, “We are currently seeking to buy 50% of the shares in the club which is now suffering with debts worth £245m.”

The Prince owns investment in sport already, but largely in the watersports industry whilst he is the chairman of holding company FAMA and investment and marketing group F6.