Monday, December 04, 2006

Moving Closer To The Takeover

Liverpool are on the verge of a new era after the chairman and majority shareholder, David Moores, granted Dubai International Capital permission to undertake due diligence in anticipation of a £450m takeover of the Anfield club.

Moores and his chief executive, Rick Parry, have granted DIC, a company owned by Dubai's ruling Maktoum family, the exclusive right to study the club's books despite rival propositions drawn up by, among others, the US businessman George Gillett Jr - formerly owner of the Harlem Globetrotters - and the Belfast-based construction tycoon John Miskelly.

Although the finer details of any deal with DIC will only become clear once due diligence has been carried out, it is understood that Moores has agreed to drop his initial valuation of the club to about £170m. That will see him accept about £4,500 a share - rather than £6,000 - with his majority 51% stake to be diluted.

The Moores family has been involved with Liverpool since the 1950s and, rather than sever ties completely, Liverpool's chairman of 15 years is expected to be given an honorary role under the new regime. Parry may remain as chief executive, particularly given his heavy involvement in attempting to move the club to a new stadium in Stanley Park. Neither chairman nor chief executive will be on the flight to Istanbul today for the Champions League tie against Galatasaray.

No formal announcement of a takeover is anticipated before Christmas but Liverpool's three-year search for new money appears to be drawing to a successful conclusion. In that time they have courted potential investment from parties as diverse as the Kraft family and Thaksin Shinawatra, the former prime minister of Thailand.

DIC's chief executive, Samir al-Ansari, claims to be a supporter of the club but the company, although it has independent status, is ultimately owned by the Maktoums. They are willing to fund the £200m construction of a 60,000-seat stadium and will cover the club's long-term debts - about £80m - but it remains to be seen whether Rafael Benítez will benefit in the January transfer market.

From The Guardian

and other various sources. Not to be taken as rumours.


Chee Sheng said...

cheers! that 450mil will come in handy indeed!


Well, I guess at least the Middle Eastern people are seemed to be more football crazy than the Americans. Perhaps a good choice.

So what name will Liverpool get now. Oil-Pool? Haha

Elia said...

huh?...Here in America we have more than football and cricket.You could also say the same thing about Europeans and baseball.

Somebody will put a Carlsberg logo on top of a turban.


Haha I'm just kidding about the Arabs being more football crazy than Americans. Maybe they offered big money, which was the priority of David Moores.

Chee Sheng said...

i also read that they might buy Tranmere to serve as a nursery for Liverpool players...
OMG, Chelski is nowhere close to Liverpool from now on! this deal MUST GO THROUGH! Dubai-polygamy rules! (Maktoum has 2 wives ^^)


Serious? Haha apparently he's the 6th richest man on earth and makes Roman Abramovich looked poor.

But I hope even with all the money, we retain our tradition and not becoming a soul-less club.

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