Monday, March 10, 2008

DIC clinch deal for 49% of Liverpool FC

Marriage made in hell? Hicks & DIC now the owners of Liverpool, as Gillett walks away
DIC have agreed a deal to purchase 49% of Liverpool FC from George Gillett. Gillett will also sell 1% of his holding to his partner, Tom Hicks, giving him technical majority control with a 51% holding.
The deal worth upto $170m was agreed late Friday, and Amanda Stavely, leading negotiations for DIC said "The legal documents have yet to be signed, but we're really pleased," said Staveley. "Of course we want to own Liverpool outright but this large stake is a great start."
DIC clearly have a long term goal to own Liverpool outright, and it is unlikely that they would be going down this avenue, unless they thought they could do so. However in the short term DIC need to agree on a partnership with Gillett's co-chairman and fellow American, Tom Hicks, who has made it clear he has no intention of giving up his control of Anfield.

It is understood that despite Hicks' angry media attack on Staveley on Saturday, he has not ruled out the possibility of a key meeting with DIC executives in Dubai today.


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