Gillett is due to arrive in the Middle East on Wednesday and is scheduled for a three-day stay to sort out the deal with the Prince's advisers and his financial company F6 Sports.
Prince Faisal has been at Anfield as a guest of Gillett and - despite the American's denials - a sale is top of the agenda to be done rather than just an investment.
Gillett can sell his half of the Kop and leave the Arabs to deal with his partner Tom Hicks if they want complete control – or they may prefer to work with the Texan.
The 70-year-old Gillett is so keen to sell up that he is going to travel to the Arab's territory to conclude the transaction - with sources in the Middle East convinced that this will happen.
Prince Faisal's investment company has allies in the banking world and they would look at Liverpool as a club to make their name - and with potential for development down the line.
The Arab is looking to become a major player and building a new Anfield would make the business world look up to him. He certainly has the cash behind him to fulfil the plans that the Americans gave up on.
There are no figures being released on what Gillett is looking to get for his share in Liverpool but it is anticipated that the deal will be good enough to get him out of his current hole.
Gillett has tried to appease the club's fans but he knows that his lack of funds leaves Liverpool's support frustrated - and puts a strain on their bid to stay as a top four force.