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Dubai International Capital's (DIC) £400 million takeover bid for Liverpool is on hold after sources close to Tom Hicks, the club's co-owner, said that the Texan millionaire did not want to sell his 50 per cent stake in the club. The offer, however, remains on the table while Hicks considers his options.
Hicks believes that the bid from the private-equity investment arm of the Dubai government underestimated the value of his stake. The Texan has first option of the shares owned by his co-chairman, George Gillett Jr, who is keen to offload his half of the club.
A considerable stumbling block to the progression of any deal with DIC has been the Americans' valuation of the club.
Sameer al-Ansari, the DIC chief executive and a lifelong Liverpool fan, said this morning that investment talks had been ongoing but were being held up by one of Hicks or Gillett.
"It's no secret that we have been in discussions with the current owners," al-Ansari said. "It's not easy because the owners are in dreamland about valuations at the moment."
Al-Ansari later clarified that one of the club's owners "had come out of dreamland", without giving further details.
Newspaper reports that DIC had issued the Americans with a deadline of midnight tonight to accept the offer were denied by a spokesperson for the private equity investment arm of the Dubai Government.
Jehad Saleh, a company spokesperson operating out of Dubai, said: "No figures have been [publicly] mentioned, and talks are ongoing. No timeline has been set on the talks.”
Saleh is not at the centre of the team driving the bid, however, which is operating out of London.
DIC made its bid to buy out Hicks and Gillett last Wednesday. The bid was made by Amanda Staveley, a senior partner at PCP, a private equity firm, who once briefly dated Prince Andrew, the Duke of York.
It emerged last night that Staveley has been acting as an adviser to DIC since it renewed its bid to buy Liverpool, reporting directly to Sheikh Mohammed bin Rashid al Maktoum, the ruler of Dubai, and she will be given an influential position in the Anfield boardroom, overseeing the day-to-day running of the club, if a bid is successful.
There were claims from Dallas last night that Hicks is ready to exercise his option to buy out Gillett’s stake and to assume sole ownership of Liverpool. It had been thought that, to do so, Hicks would have to secure an off-market placement of his shares in Hicks Sports Group, which includes his investments in the Texas Rangers baseball team and the Dallas Stars ice hockey franchise.
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Wnen people say, "how can they turn down 25 million in profits", I think it's presumptuous to assume that Hicks is in it purely for the money. Sure both Hicks and Gillette are businessmen, but I think there's some combination of interest and ego in it as well. By interest, I think the Hick does in fact like the idea of owning one of the greatest football clubs in the world--regardless of his background (or lack thereof in the sport). On the other hand, I think the ego comes into it in term of now wanting to be "driven out" of owning the club just because he's suddenly public enemy number one to the majority of the clubs supporters.
What's in the best interest of LFC? To get the media spotlight off the ownership situation and onto the pitch. Does that necessarily mean that the American need to be out, and DIC in? I don't think so, though its certainly seem that way considering how things have been heading in the last few months....
YNWA
Justin Wright, Seattle, WA
To be fair Rafa is one of the best managers Liverpool have had since the days of dalgleish,as a lifelong fan i think he should deffinatley be allowed more time and he will deliver the only trophy that has eluded us in 18 years. As for the american owners its time they got on their horses and rode off into the sunset and stand aside to let somebody who has obviousley got Liverpool in their hearts and not in their wallets.
DIC -IN YANKS- OUT
IN RAFA WE TRUST
Justin, Rhuddlan , Denbighshire
How can these clowns not be happy with £25m profit each. They bought the club for £200m 14 months ago, its currently in a worst state than it was and they want more than double the money?
They have lied about the debt going against the club, not delivered on the stadium, undermined the manager and ruined the traditions of the club. They are not welcome now and won't be in the future so they should take thier profit and leave taking Parry with them.
Although at times we have not been good enough this season we have only lost 3 games and the dividing line has been thin. Rotation has been annoying but Rafa hs brought in Renia, Agger, Alonso, Macherano, Lucas, Torres and Babel which looks like a good spine for the future.
For years we have been one of the best run clubs and this last year has been shameful. The decison on how we got to this point also needs to be questioned. However for now I'd settle for us just being on the back pages purley for football.
Mark, Liverpool,
never before have i had any interest in the owners of liverpool,it just shows you the change in football. i wish they would get it sorted asap. this could all be done in pre season not a such a crucial time in our season. ynwa
jimmy, ballymena, n.ireland
As a liverpool i want to see D.I.C take over and run the club the way it should be. if you have ever tried to go on the web site and tried to buy something you cant because its always sold out its not good enough.rafa is a good manager and we have a good team just no luck some times he has took us this far and stuck by his players so he needs more time to win the league. alex ferguson never done what rafa done in 3 seasons and neither did wenger.IN RAFA WE TRUST all good things to those who wait out with the yanks they are just greedy for money
joemccusker, Belfast, N.ireland
Now Rafa hasn´t come close to the trophy we all want to win, he´s had enough chances and too many excuses - and he´s arguably the most defensive manager in the league.
How can it be wrong to consider other options? Does anyone really think it´s Hicks´ fault that we´re trailing? Rafa´s spent too much on the wrong players and will keep getting it wrong. I don´t like it particularly, but I think Hicks & Gillette were too weak when they didn´t fire Rafa in November.
TeBe, Oslo, Norway
The idiocy surrounding the Reds boardroom is why having one sole guy in charge beats having a group who can't figure out how to move forward with major investments, signing players, building stadiums, practice facilities, & scouting. It is better to having the buck stop with one person, rather then with my Reds who have Hicks, Gillett, with Parry with tdoing the day to day work. I would rather have it like Chelsea where you know Abromovich knows what he likes & has the cash to back it up. I think DIC could be like that, if you look at DIC's trackrecord in horse racing, you will see they are in it to win,& plus you know the money is there.
I just want to see the Reds be the club it has been in the past, winning the league, not just being cup specialists. While the last 3 years have seen the 2005 Champions League trophy, the 2006 FA Cup trophy, & being the 2007 Champions League runner-up, it's been too long for the league.
danybhoy, minnesota, usa
One has to wonder why Hicks would want to assume 100% ownership of Liverpool FC when it seems patently obvious that he is not wanted, his heart is not in it (just his wallet) and if he does sell he will make a fair amount of profit which most people would say he does not deserve given his conduct so far.
Of course sport is big business these days but if the Glazers can let Sir Alex do things his way (and still make money) why can't Hicks let Rafa do the same?
I heard that in WW2 the Brits were fond of saying that the Yanks were "over paid, over-sexed and over here". It seems now that Hicks is "over-bearing, over there and Liverpool are over him"!
Jim Kellam, Melbourne, Australia
The quicker this saga gets over and done with the better. We need somene at the top, providing the funds for the manager (be it Benitez or someone else) to add quality to our squad. We are fast become a Newcastle/Leeds and it tears me to bits to think the club i love could become that after such a great history, and a promising future. We need to stop airing our dirty linen in public, go back to the values the club was built on and thrived on for so many years. Dear old Bill Shankly would be turning in his grave at what is going on. Liverpool FC needs to become just that, Liverpool FC and return to the "Liverpool Way", because the way things are now are dreadful. As George Bernad Shaw once said "We are made wise not by the recollection of our past, but by the responsibility for our future." Let's hope the people that will be in charge in the future understand this and take it on board, for without history we have no future, but with no future....we have no history. YNWA
Steven, Sydney, Australia
It's a bit of a mess all this. Hicks and Gillette have lost the fans' confidence they so valuably had at the beginning of the season, and have had a rocky relationship with Rafa and between themselves.
But as a big Liverpool fan living in Dubai, I have first-hand experience of how fast buildings and man-made island projects move out here. The attitude of the Dubai government is 'we must have it now, now, now', and if they take over at Anfield, Liverpool will have people in charge with money, but the mentality of Spanish and Italian club presidents who readily sack managers and have too much control on the pitch.
Hope for vast improvements from the Yanks, or pass up a load of Dubai money for players and stadium developments?
Good luck deciding.
Scott, Dubai,