Saudi group put off by Liverpool’s debts

Saudi Arabian marketing and investment group F6 have denied claims that they are close to reaching an agreement to buy a share in Liverpool Football Club.

Reports earlier this week suggested that F6, chaired by Prince Faisal bin Fahd bin Abdullah were deep into negotiations to inject cash into the club after doing business over setting up sports academies with Reds co-owner George Gillett.

However F6 director Barry Didato said the business with Gillett is entirely separate to anything involving Liverpool FC, although a deal to purchase part of the club eventually would not be ruled out.

“As far as investment in Liverpool is concerned, that would be a long way off,” he said. “A lot of people have jumped the gun and any possible investment would be several months away. The agreement signed leaves the door open for it, but that was certainly not the focus of it.”

Didato also hinted that the state of the club’s debt would be a big turn off in any investment plans. He added, “Another issue is the club’s debt. Prince Faisal will not put forward investment capital to just clean up a balance sheet. He would only want to use money to take the club forward.”