The future of Liverpool FC last night remained dogged by uncertainty despite co-owner Tom Hicks insisting he was not planning to sell his stake in the club.
Hicks moved quickly to dismiss reports he had invited Dubai International Capital (DIC) to inspect the club’s accounts in preparation for a takeover.
A source last night told the Daily Post the reports were “wide of the mark”.
It is understood Hicks has had talks with DIC even after a £350million refinancing package was announced on January 25.
The Daily Post also understands there has been a breakdown in relations between Hicks and co-owner George Gillett.
The pair are thought to have fallen out over Hicks insistence to make the details of the £350m refinancing package public – Gillett refused to put his name to it.
DIC are understood to be considering making an offer for Gillett’s 50% stake, but also want a slice of Hicks’ holding to gain a controlling interest.
The latest speculation follows Hicks’s son being chased out a the Sandon pub after Saturday’s match against Middlesborough.
Yesterday Hicks released a statement. It read: “Reports that I am about to sell my stake in the Liverpool Football Club, or to invite DIC to examine the club’s books in preparation for such a sale – like other such reports planted in the UK press in recent weeks by parties with their own self-interested agenda – are absolutely and categorically false.
“The reality is that I am personally, professionally and financially committed to the club and its supporters and that I will continue to honour that commitment to the best of my ability now and in the future.”
It appears no takeover by DIC is imminent but that the Dubai company, the investment arm of the Maktoum royal family, are keeping their options open.
The main problem preventing a takeover remains the price DIC are willing to pay.
It has been nowhere near the amount of money Hicks has been asking for – he would want to make a substantial sum out of selling the club.
Another hurdle to overcome is that the refinancing package announced on January 25 has loaded £105m of debt on to the club.
Of that, £60m is earmarked to kick-start the new stadium development plus £45m for future player transfers and to meet the club’s working capital needs.
Even if Gillett is willing to sell his 50% to DIC, they would still not have a controlling share so would want to buy some or all of Hicks’ stake to ensure they had a majority holding.
The takeover talk is being driven by the fact that the refinancing deal only lasts for 18 months and so Hicks and Gillett are soon going to have to start renegotiating the debts.
Furthermore, they are shortly going to have to go back to the banks to ask for a further £300m in loans to finance the rest of the new stadium at Stanley Park.
Hicks moved quickly to dismiss reports he had invited Dubai International Capital (DIC) to inspect the club’s accounts in preparation for a takeover.
A source last night told the Daily Post the reports were “wide of the mark”.
It is understood Hicks has had talks with DIC even after a £350million refinancing package was announced on January 25.
The Daily Post also understands there has been a breakdown in relations between Hicks and co-owner George Gillett.
The pair are thought to have fallen out over Hicks insistence to make the details of the £350m refinancing package public – Gillett refused to put his name to it.
DIC are understood to be considering making an offer for Gillett’s 50% stake, but also want a slice of Hicks’ holding to gain a controlling interest.
The latest speculation follows Hicks’s son being chased out a the Sandon pub after Saturday’s match against Middlesborough.
Yesterday Hicks released a statement. It read: “Reports that I am about to sell my stake in the Liverpool Football Club, or to invite DIC to examine the club’s books in preparation for such a sale – like other such reports planted in the UK press in recent weeks by parties with their own self-interested agenda – are absolutely and categorically false.
“The reality is that I am personally, professionally and financially committed to the club and its supporters and that I will continue to honour that commitment to the best of my ability now and in the future.”
It appears no takeover by DIC is imminent but that the Dubai company, the investment arm of the Maktoum royal family, are keeping their options open.
The main problem preventing a takeover remains the price DIC are willing to pay.
It has been nowhere near the amount of money Hicks has been asking for – he would want to make a substantial sum out of selling the club.
Another hurdle to overcome is that the refinancing package announced on January 25 has loaded £105m of debt on to the club.
Of that, £60m is earmarked to kick-start the new stadium development plus £45m for future player transfers and to meet the club’s working capital needs.
Even if Gillett is willing to sell his 50% to DIC, they would still not have a controlling share so would want to buy some or all of Hicks’ stake to ensure they had a majority holding.
The takeover talk is being driven by the fact that the refinancing deal only lasts for 18 months and so Hicks and Gillett are soon going to have to start renegotiating the debts.
Furthermore, they are shortly going to have to go back to the banks to ask for a further £300m in loans to finance the rest of the new stadium at Stanley Park.
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