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Dubai to make Liverpool FC bid
DUBAI International Capital is ready to make an offer for Tom Hicks’s stake in Liverpool FC.
The ECHO understands senior executives at the Dubai-based internationalinvestment company were given the go-ahead by Sheikh Mohammed AlMaktoum to launch a second bid to buy into Liverpool in a year.
An offer has been agreed in principle.
A source close to DIC today told the ECHO the bid would be for a halfshare in the club with the Arab consortium willing to enter into a dualownership deal with George Gillett.
He said: “It is a very delicate situation but DIC has reignited its interest in Liverpool Football Club.
“The terms of the offer, which will be made to Tom Hicks, have beenagreed and DIC are hopeful they will be finally be able to invest inLiverpool.
“The offer is now being written up and it should be only a matter of time before it is delivered to Hicks.”
Co-owners Hicks and Gillett are edging closer to clinching a refinancing deal.
But DIC are hoping to make a move before any deal is completed.
Hicks and Gillet enjoyed a honeymoon period after their acquisition of the Reds.
But recent revelations they talked to Jurgen Klinsmann about thepossibility of replacing the hugely popular Rafa Benitez as managerhave led to them falling out of favour with the Liverpool fans.
While the financial restructuring deal, which would give them thenecessary collateral to fund the building of the long-awaited newstadium, remains incomplete, DIC believe a window of opportunity stillremains open to them.
Whether Hicks is willing to sell is another matter entirely.
The Dallas-based multi-millionaire is on record saying he is notinterested in selling his stake, even though there are tensions betweenhimself and Gillett about the proposed refinancing deal.
In a recent interview with the ECHO Hicks said: “I just want to clearup with you that I am not selling any of my shares to anybody.
“I have no idea why anyone would think that. It was just rubbish.”
But with Sheikh Mohammed, one of the world’s richest men, now back onthe scene Hicks looks likely to face some tough decisions in the daysto come.
On the one hand a deal with DIC could present him with a sizeablereturn on his initial investment and an opportunity to walk away fromthe dual problems of securing the necessary loans to service their owndebt, fund the new stadium and winning the fans over all over again.
But, on the other, there may be a reluctance to part with an assetwhich he fought so hard to acquire, one which he firmly believes canpay dividends in the long term.
Hicks insists financial restructuring could be complete within days,and if he is proven right it will make an immediate offer from DIC lesslikely.
The American pair have six weeks to secure a £350m loan that would refinance their original purchase of the club.
Hicks recently told the ECHO he hopes a deal can be signed off with theRoyal Bank of Scotland and the US investment bank Wachovia by themiddle of next week.
If, as expected, DIC follow up their interest with a firm bid theownership of Liverpool FC could change for the second time in a year.
Club officials said today: “We do not comment on speculation.” |
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