Friday, November 07, 2008

Liverpool Must Seek Foreign Cash To Compete

A former Liverpool player said on Thursday the Premier League club should target foreign investors for cash to compete with rivals Manchester United.

"For Liverpool and the supporters it really doesn't matter who the owners are," Hansen told Reuters on the sidelines of a conference in Dubai on Thursday. "They're only interested in financing of new players and how well it (the team) is doing."

"If the Americans haven't got the money then if DIC came in and bought it and guaranteed a new stadium then that would be great," the former defender said in reference to Dubai International Capital, a state agency of the Gulf emirate.

DIC was outbid by Americans George Gillett and Tom Hicks when the Moores family sold the Merseyside club for 219 million pounds ($348.1 million) in 2007.

DIC in September ruled out a fresh bid for Liverpool or other clubs after mounting speculation that Gulf Arab investors would look to emulate an Abu Dhabi-based group that took over Manchester City on Sept. 1 by buying into British teams.

"If you are a Manchester City supporter you're in dream land ... City have been in the doldrums for such a long time ... now with the transfer window in January, you don't know what's going to happen. They might buy the world."

Hansen said the most important focus for Liverpool was funding a new stadium. "You cannot compete with Manchester United if they've got 76,000 (seats) and we've only got 44,000."

Another Dubai state firm, Zabeel Investments, in October called off its proposed takeover of Charlton Athletic, which plays in the English Championship (second division).

In 2007 Zabeel tried to buy Liverpool.

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