Oliver Kay
Win a fitness package worth more than £3,000

Tom Hicks and George Gillett Jr, Liverpool’s American owners, are preparing to signal the beginning of the end of their regime at Anfield by granting Dubai International Capital (DIC) permission to examine the club’s accounts with a view to making an official takeover bid next month.
Hicks has consistently claimed that he has no intention of selling his 50 per cent stake in the club, but, while he plans to retain some of his shares and some of his influence at Anfield for the immediate future, face-to-face discussions with DIC officials in Dubai and, more significantly, London last week have brought a deal closer.
Although a final agreement is understood to be some weeks away, with the Americans eager to maximise their profits after a turbulent 12 months in control, sources in the United States have indicated that they are ready to demonstrate their willingness to sell by granting a period of due diligence to DIC, the private-equity investment arm of the Dubai Government.
Gillett, whose involvement with the club is now minimal, is expected to be the first to sell his 50 per cent stake, possibly by the middle of next month. Hicks is likely to sell only part of his stake initially, leaving DIC in majority control of the club but retaining some interest and his place on the board, at least in the short term.
Hicks’s abrasive manner means that he is regarded as the most likely obstacle to any deal being completed, but discussions are said to be progressing “sensibly and professionally”, albeit slowly. Although Hicks could, in theory, buy Gillett’s stake in order to strengthen his own bargaining position, that is thought to be unlikely.
For now, no price has been agreed between DIC and either of the co-chairmen. The Americans, whose initial takeover just over 12 months ago was valued at £218.9 million, now put the club’s worth at more than £400 million, but £350 million of that figure would be swallowed by the debts incurred as a result of their recent refinancing deal. DIC would be reluctant to meet that valuation if, as remains the case, Liverpool are in danger of missing out on qualification for next season’s Champions League and the associated riches.
DIC’s plans for Liverpool are not yet clear beyond its eagerness to conduct a wide-ranging review of all departments of the club, but its arrival would be greeted enthusiastically by many supporters.
Welcomed by some as saviours in February last year, the Americans have attracted hostility not only by taking the club into debt — something that they pledged they would not do — but also by their treatment of Rafael Benítez, the manager, having held talks with Jürgen Klinsmann, the former Germany coach, about replacing him. There was also the embarrassment over their grandiose designs for a new stadium, which were unveiled amid fanfare in July only to be dropped owing to spiralling costs less than five months later.
Tom Hicks Jr, who was invited to join his father on the board, was confronted angrily by some supporters when he visited a pub near Anfield on Saturday. He claimed yesterday that he “had several constructive conversations” during his visit and that he hoped to “follow up with them next time I am in Liverpool”.
By contrast, Gillett’s son, Foster, who was initially dispatched to Merseyside to liaise between Benítez and the owners, has spent the past month in Montreal, apparently with no plans to return. Benítez has attempted to build bridges with Hicks in the meantime, but now it seems that power at Anfield is about to be transferred to Dubai.
Industry sectors news at a glance. Interactive heatmap, video and podcast
The inside track on current trends in the charity, not for profit and social enterprise sectors
Read our exclusive 100 Years of Fleming and Bond interactive timeline, packed with original Times articles and reviews
Everything the Business Traveller needs to know to make a better trip

Find tickets for:
Shortcuts to help you find sections and articles
05/2005
£13,500
08/2008
£109,950
2006
£10,750
Great car insurance deals online
£Excellent+ executive benefits
Torres and Partners
London
£49,229 - £62,035 pro rata
Charity Commission
London/Liverpool/Taunton
Alstom Power
Europe
Six Figure
Rolls Royce
Midlands/Europe
From £89,950
Great Investment, River Views
Special Offers now available
New Year in the USA!
.
Cruise the Islands of Hawaii - Pride of America
List your property with two leading travel websites
Great travel insurance deals online
Contact our advertising team for advertising and sponsorship in Times Online, The Times and The Sunday Times, or place your advertisement.
Times Online Services: Dating | Jobs | Property Search | Used Cars | Holidays | Births, Marriages, Deaths
News International associated websites: Globrix | Property Finder | Milkround
Copyright 2008 Times Newspapers Ltd.
This service is provided on Times Newspapers' standard Terms and Conditions. Please read our Privacy Policy.To inquire about a licence to reproduce material from Times Online, The Times or The Sunday Times, click here.This website is published by a member of the News International Group. News International Limited, 1 Virginia St, London E98 1XY, is the holding company for the News International group and is registered in England No 81701. VAT number GB 243 8054 69.
Does that mean poopy seed rolls will be of the menu
at Anfield?
Brian, london, UK
Some Ellis is questioning Dubai's credentials because "their regime is a dictatorial one." How funny, as if Dubai is the only Arab country under a dictatorial regime. How about Saudi Arabia? Yet this did not stop the British government from paying them millions in bribes to obtain contracts worth bilions. So if Saudi Arabia is good for Britain, I am sure DIC will be good for Liverpool. And I do hope they manage to buy the Americans out of Anfield.
Joe A. Vella, Sliema, Malta
Who knows whether DIC will be any better or worse for LFC - no one can predict. The Americans let us down - but that is hardly a surprise from businessmen out to make a quick buck without investing their own capital (what were the LFC board thinking when they agreed to this?).
The really sad part is that this great club was founded and thrived on clear moral values, integrity and dignity. Over the years LFC has have won numerous cups and become reveered worldwide through its excellence and exemplary behaviour of players and managers (not least, Rafa who shows integrity and class).
Now that excessive finance has come to football, in general, and betting markets/SKY take over, many results appear manufactured and consequently the spectator's excitement dimishes as cynicism grows. Everything comes at a price - sometimes watching a local match in the park is more gratifying. I just hope that the spirit and character of LFC will survive this dark period, but am not holding my breath.
Dave, Y.N.W.A., Wirral,
Chris the reason they want to buy foreign football clubs, be an international airline hub, and get rich foreigners to buy property on artificially created islands is BECAUSE the oil will run out in about 10 years!
raymond, Liverpool, UK
Chris of Worthing, FYI there is no oil in Dubai, and never has been. It's the Middle East's major financial centre and as such it's pretty well awash with money and likely to remain so for the foreseeable future.
Nige, Douglas, Isle of Man
Is Philip from Cheltenham having a laugh??
The ideal scenario is Rafa to win the European Cup again before moving to pastures new.
You've got major problems mate. If Rafa takes us to our 3rd European Cup Final in 4 years you don't get shut.
We've had a dissapointing season but now's the time to get behind the lads and make sure we go as far as we can in Europe while securing fourth spot so we can regroup in the Summer a yank or 2 lighter and have a proper go at No19! Get behind Rafa and the lads.
LASKC
Gareth Potsig, liverpool, uk
they will sell onto a more profitable group to keep afloat when the oil runs out
john, london, uk
Wait, I thought foreign ownership was bad? Or is it just American ownership? Well, if the Americans are out who will we blame for the troubles? Eventually the buck will have to stop somewhere. Oh, and I want one of those scarves!
Tom, Cleveland, USA
What happens when the oil in Dubai runs out in about ten years?
Chris, Worthing, England
Few more quality signings and number 19 will arive sooner rather than later, i am a season ticket holder and everyone wants DIC and the yanks out.
to the tune of 'The Animals go in Two by Two'):
His armband proved he was a red - Torres, Torres
You'll never walk alone it said - Torres, Torres
We bought the lad from sunny Spain
He gets the ball he scores again
Fer-nan-do Torres Liverpool's number 9.
paul hatfield, wallasey/merseyside, england
Assuming the new sale is for £400m, or close, doesn't that mean that David Moores struck a bad deal at £220m for himself as controlling shareholder? He must a bit miffed.
Stephen, London,
Can't we export the whole club to Dubai...might give the city a chance to grow up and get over it...now that's what i call culture...
Mark Diston, Liverpool,
It's a shame that the Americans, and their obsession with debt, has brought Liverpool FC to the brink of financial reuin. Let this be a lesson to other football clubs in England - do not entertain offers from American businessmen who know nothing about running a successful football club! And if, through a momentary lapse of reason, you do decide to hand over power of your club to Americans, at least have the sense to investigate whether they are as rich as they say they are!
Andrew Nyazai, Godalming, UK
All good news for Everton?
Hardly! DIC have money, something H&G don't have. Quite how DIC would finanace the club remains to be seen but as things stand at the moment Liverpool HAVE to qualify for the Champions League to service the interest on the refinance. DIC could cover that should the worst come.
Liverpool could become the new Chelski with an open cheque book transfer policy which would leave Everton clutching onto their dream filled Tesco bags.
Ed, York,
H & G is partly deserve rejection they have provoked. They came to believe that the USA manage a football club was like bringing businesses Mc'Donalds and not realized that weighs more in europe shirt, history and feelings that money.
One can not be so arrogant...
Alex, Bilbao, Spain
Hicks and Gillet may have disappointed since their takeover, but I think Liverpool should be cautious about the potential Dubai takeover. Let's not forget that the foundations of Dubai have to a large extent been built on the exploitation of thousands of poorly paid workers, and that the their regime is a dictatorial one with a questionable record in human rights. Motivated purely by profit DIC is far from the benign owner that Liverpool fans deserve. The offer of investment and a bottomless pit of cash should not obscure this.
jamie ellis, ipswich, suffolk
Ideal Scenario: Rafa hands back the keys and heads for pastures new, leaving Big Ears on the sideboard for new owners and manager. New owners embark on major refurb, discovering £60 million worth of once decent players collecting dust in the attic. Players are sold as retro-chic to wannabee clubs at vastly inflated prices. The best talent money can buy is purchased and lovingly displayed. Major extension to trophy room in lip-smacking anticipation. The Special One takes up residence.
Philip, Cheltenham, UK
Another foreign DIC head owning a piece of English culture. The line between EPL and prostitution is getting blurry by the season.
S K LIn, HOng Kong, CHina
What a contrast between us (Aston Villa) and L-pool, both U.S. owners but poles apart to our opinion of them. Randy is doing a great job!
Rafa is also to blame, the bloke has had so much cash to spend it's un-real, he has just made bad buys. How can he moan he needs more cash? Without Gerrard and Torres (Rafa's only good signing) they would be a mid-table side.
D.B., Berks,
How can this be an exclusive when I have read variations on the same theme in at least two other papers already?
Oliver Chettle, Bedford,
All good news for the blue half of Merseyside. The icing on the cake would be that they miss out on a Champions League spot and go even further in debt. Can't help but keep chortling to myself.
andrew, London,
I thought the Sheiks were into horse racing. Will Gerrard and Torres be put out to stud?
John Russell, London,
Bring it on and Sheik yer booty.
Micky Dunne, Liverpool,
It is sad to discover how unfortunate it has been for Liverpool to have landed the Tom Hicks and George Gillett as owners. So far these two characters have shown you cannot shake hands with them without counting your fingers afterward. The quicker they leave and Dubai comes in the better for football, for Liverpool and for Rafa. It is good to have a strong Liverpool in the league. Sheik Mohammed Ruler of Dubai is one of the most serious and influential men in the Middle East. The growth and achievements in Dubai is mind boggling and if that type of attention is paid to Liverpool. No one is going to take any titles away from Liverpool. I wish the Emirates had gone to Arsenal instead of Russians targeting the club now.
Theo, Sao Paulo,
Bad omen for future american buyers.
Lizzy, Wirral,
So that's it then, only in it for the money! They finance the purchase of the club with a personal loan. Then they borrow more money in the club's name, pay themselves back and more, then take the money and run, leaving the club deep in debt. If all this is legal, then I'm with Dickens' Mr. Bumble: "The law is an ass"!
Roger, Milan, Italy
If Sheik Maktoum gets hold of the Liverpool then the rest of English football should be very worried. The sheik want always to be no.1. Expect to see new signings at the Liverpool to play with Torres, Gerrard and Mascherano.
Paolo, Milan, Italy
DIC can't be any worse than H&G who are businessmen that are completely oblivious to the proud history and reputation of this football club.
Obvioulsy DIC are in it for the money too, but I think they have more appreciation for the football side of things.
I still believe that Rafa must stay, yes he has had a below average year in the league, but he will get it right.
Two European finals in three years is not a fluke - hopefully he can make it final number three this year.
Rory Collins, Sydney via Cork, Australia
Unfortunately, this means HIcks will get back to what he does best. Ruining sports here in Texas...
Steve, Dallas, Tx
Great NEWS. Could it be tomorrow Please!!!
Ken, Wollongong, Australia
Am I the only Liverpool fan who thinks that this is a terrible terrible idea? Hicks and Gillett have a great deal of experience running sports clubs, DIC don't. Hicks and Gillett are independent, DIC aren't. And that's not including the fact that DIC are a branch of the Dubai government. Can't wait to have them running our club...
Bloody awful if it's true.
Dan, London, uk
Thaksin, H&G, DIC... the list goes on, the fact is that Liverpool's been on the market for a very long time yet the mess only gets deeper. Once you get in, it's very hard to get out, ask Mike Ashley ;-)
Michael, London, United Kingdom
Let's get this deal sorted, DIC in H&G out, quick as possible. Hopefully then, this Magnificent club can move on & prepare for a bright future.
REDrascal, uk,
The sooner the better.
The whole club needs re-modelling. Liverpool are a sleeping giant ready for DIC to take them back to the very best.
David O'Dowd, SOUTHPORT, England