George Gillett Jr and Tom Hicks, the co-chairmen at Anfield, moved to reassure supporters last night that Liverpool would not be sold for the second time in less than a year.

However, serious questions remain over the future ownership of English football’s most successful club. Although the Americans are said to remain “fully committed” to Liverpool, it appears that Dubai International Capital (DIC) is prepared to back Gillett as he weighs up whether to make an offer to buy out the 50 per cent shareholding of his compatriot in the latest twist to the power struggle at Anfield.

If Gillett is bold enough to present such an offer to his partner — and there remain serious doubts that he will — the success of the move, unthinkable when they bought the club in February last year, would be dependent on Hicks agreeing to sell, although such a scenario was given short shrift last night.

A spokesman for the Americans said: “Any suggestion that Messrs Hicks and Gillett are contemplating a sale of the club or any portion thereof to DIC or anyone else is categorically untrue.”

Despite the desire of the joint owners to show a united front, Liverpool supporters remain anxious as the relationship between the pair is becoming increasingly strained. It could be pushed to breaking point if Gillett, who alone does not have the funds to acquire Hicks’s stake, pursues the opening afforded by DIC, the private-equity arm of the Arab state, which nearly bought the club last year.

Sources have indicated that there is only a slim chance of Gillett putting the offer to Hicks and that he may instead approve a controversial £350 million refinancing plan for a new stadium that is expected to be ratified early next week. But even then, it is hard to see how they can carry on working together beyond the short to medium term.

Gillett was furious with Hicks for admitting this week that Jürgen Klinsmann had been offered the chance to succeed Rafael Benítez as manager and, by showing a willingness to speak to DIC, he has hardly shown much confidence in his partner.

With the refinancing deal close to being agreed — Hicks wants to replace the £270 million Royal Bank of Scotland loan that they used to buy the club with a £350 million advance that will allow Liverpool to proceed with the construction of a 70,000- capacity stadium in Stanley Park — the window of opportunity for Gillett to manoeuvre is small. However, DIC, which was established in 2004 effectively as an investment vehicle for Sheikh Mohammed bin Rashid al-Maktoum, the world’s fifth-richest man, is unlikely to be permanently dissuaded in its attempts to buy into Liverpool if a deal cannot be struck.

DIC tried unsuccessfully to buy a portion of new shares in the club in November and has the backing of the majority of Liverpool supporters, who, upset about the Americans’ treatment of Benítez, made their feelings known during the 5-0 FA Cup third-round replay victory over Luton Town on Tuesday. A recent poll showed that 83 per cent of fans were in favour of DIC buying the club.

A change of ownership would not necessarily play into Benítez’s hands, however, as it has been mooted that DIC would favour appointing its own man. Similarly, Rick Parry, the chief executive, may also find himself between a rock and a hard place.

Like Gillett, Parry is uncomfortable with the refinancing package being proposed, but having given his backing to the Americans over DIC last year, he may find he has little support from the consortium, which had previously stated a desire to appoint its own chief executive.