Wednesday, March 26, 2008

DIC Liverpool takeover back on

Credit Crunch opens the door, with DIC confident of a deal for Liverpool within the month

Long-time pursuers of Liverpool, Dubai International Capital are reportedly set to be within three or four weeks of making a bid for complete control of Anfield.

DIC is set to offer £400million for Liverpool FC, and would also bring in a minority investor. DIC, who lost out to Gillett and Hicks in the race for Liverpool last year, are said to be confident that Hicks will sell now, despite Hicks recently being adament he won't sell at all.

Although DIC, which is the private equity investment arm of the Dubai government, realises it is paying a high price for Liverpool – Gillett and Hicks bought the club for £219m 13 months ago – it believes it will be a price worth paying.

A source is quoted as saying: "It's not a cheap deal and Hicks is holding out but there is confidence that it will now finally happen."

DIC, whose chief executive Sameer Al-Ansari is a life-long fan of the club and who will join the board, has ambitious plans which could include involving some of its other investment vehicles in an attempt to raise its profile.

The hotel group Jumeirah could be used as part of the development of a new stadium. A wide-ranging review of the club, and its revenue streams, will be conducted.

DIC's confidence appears to stem from claims that some of the loans Hicks used to buy Liverpool are due to be refinanced again soon with the American money markets now less welcoming to big loans as a result of the credit crunch.


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