MARCH 30
Parry wants quick end to Reds saga

TEAMtalk

Rick Parry believes Liverpool's ownership saga is coming "to a head" and must now be resolved by the American co-owners as quickly as possible.

George Gillett revealed in an interview on Friday that his relationship with co-owner Tom Hicks had long since broken down, and Parry admits that he sees no way in which they can carry on as a partnership.

With Dubai International Capital reportedly keen to launch a full takeover of the Anfield club, Hicks has so far refused to do business unless he can retain a controlling share, while Gillett appears more amenable - claiming DIC would be "responsible" owners.

Parry is keen to sort the issue out as soon as possible but insists the club have to take correct decision and not the most expedient.

"My plea is that something happens this week," he said.

"There is a need for a degree of urgency but it is urgent to get it right, not urgent to come up with the wrong solution.

"To move onwards and upwards we need a resolution but I don't think this is going to have a direct bearing on the players, that is pretty unlikely.

"It is certainly not conducive to long-term planning and managing the club.

"Over time, if we fail to deliver and fail to perform, that is when star players become dissatisfied but that is not an immediate fear from where I sit."

MARCH 28
Gillett: My Liverpool dream is over

By John Thompson - Liverpool Echo

Liverpool co-owner George Gillett today admitted his partnership with Tom Hicks had completely broken down and was beyond repair.

And he told of the death threats he and his family had been receiving from fans amid the ongoing controversy surrounding Anfield.

Gillett revealed he had also recently offered Hicks the chance to buy out his half share in the Reds but that he had run out of time.

He also declared that Hicks had tried to veto him selling to Dubai International Capital – whom he said would make ‘very responsible owners’ of the trouble-torn club.

The Dubai company has already had a recent £400m bid for Anfield turned down by Hicks, who insists he is not interested in selling his stake.

Gillett spoke at length for the first time of the crisis at Anfield in an interview with radio station Fan590 in Canada, where he admitted he may now pursue an interest in establishing a soccer club in Montreal which would play in America’s MLS.

The owner of the Montreal Canadiens ice hockey team did not reveal what he planned to do with his half share of Liverpool now, but said there were ‘pieces on the chess board moving’.

Said Gillett: “There are things going on - there are pieces on the chess board moving but it would not be helpful for us to comment.”

Referring to Hicks’ revelation in the Echo last month that the pair had approached Jurgen Klinsmann to line him up as a potential successor to Rafael Benitez, he added: “We get as many as 2,000 emails a week.

“Ninety five per cent of them have been directed at some of the comments made by my partner. And five per cent aimed at both of us.... ‘Go Home Americans!’

“The thing that angers fans the most is the prospect I might sell even one share of my stock to my partner.

“They do not want him to have any controlling interest in this club – they do not even want him to have any ownership in the club.

“As a result of that – and it’s been very difficult for my wife with the amount that I travel – we receive many phone calls in the middle of the night threatening our lives – death threats.

“A number came to the office and my son Foster and daughter-in-law Lauren have received them.

“It’s interesting the calls are not against my wife or myself or my son or my daughter in law, as much as they are against us selling to our partner.

“So we are rethinking that.

“Frankly I don’t think it’s fair for me to put my family in that kind of danger.

“So instead of thinking about selling I might think about buying.”

Referring to his joint ownership with Texan billionaire Hicks, Colorado-based Gillett admitted: “This partnership has been unworkable for some time. But not because of us – we have tried to be co-operative, we have tried to be supportive but when your public persona is more important than the facts, that makes it difficult to have a rational relationship.

Asked about his plans going forward Gillett added: “We were very fair. We gave our partner a long period of time to try to make arrangements to buy us out.

“We didn’t put pressure on him but he ultimately did not get to the finish line.

“In the meantime, because of the things he said, the fans’ reaction has been so negative towards him – and towards us if we sold to him – that has now made that an untenable alternative for us.

“He threatened to block me selling to Dubai - that was certainly one of the things that made the fans upset.

“Lord knows DIC have the money; with oil prices going up every day, that’s not an issue. They certainly have the history and they are fans.

“I think they would have been very responsible owners.

“But making that not possible or difficult didn’t endear people to the fans.

Pledging to do what was best for the club now, Gillett promised: “What I know is that the fans and the great fabled history of this club deserves better – and we are going to do whatever we can to prove that in whatever role we play.”

Despite the threats and the general furore Gillett revealed he and his son Foster – a club director – intended to travel to England to attend one of the upcoming games against Arsenal next week.

MARCH 25
DIC now linked with total
takeover at Liverpool FC

Liverpool Daily Post

Liverpool's long-time suitors Dubai International Capital are thought to be within three or four weeks of making a bid for complete control of Anfield.

DIC is reported to have decided to offer £400million for Liverpool FC, but would also bring in a minority investor to back it up.

As the Daily Post revealed earlier this month, George Gillett, one of the two Americans who currently run Liverpool, had agreed to sell his half to DIC.

But that move was blocked by co-owner Tom Hicks, who apparently has final say on if Gillett can sell.

DIC, who lost out to Gillett and Hicks in the race for Anfield last year, are now said to be confident that Hicks will sell now, despite Hicks insisting just weeks ago he didn't play to sell at all.

Although DIC, which is the private equity investment arm of the Dubai government, realises it is paying a high price for Liverpool – Gillett and Hicks bought the club for £219m 13 months ago – it believes it will be a price worth paying.

A source is quoted as saying: "It's not a cheap deal and Hicks is holding out but there is confidence that it will now finally happen."

DIC, whose chief executive Sameer Al-Ansari is a life-long fan of the club and who will join the board, has ambitious plans which could include involving some of its other investment vehicles in an attempt to raise its profile.

The hotel group Jumeirah could be used as part of the development of a new stadium. A wide-ranging review of the club, and its revenue streams, will be conducted.

DIC's confidence appears to stem from claims that some of the loans Hicks used to buy Liverpool are due to be refinanced again soon with the American money markets now less welcoming to big loans as a result of the credit crunch.

MARCH 11
Hicks denies blocking DIC fan plan

Guardian Unlimited

Tom Hicks has rejected claims that he blocked an attempt to have a Liverpool fan installed on the Anfield board during negotiations with Dubai International Capital over its potential investment in the club.

It had been claimed by DIC sources that the issue was one reason why talks between the two parties collapsed on Monday. A DIC insider, heavily involved in talks with fans groups over the club's future, maintained that the idea of a fan on the board did not appeal to Hicks' negotiators.

But the American has issued a statement through his London-based advisors saying: "With regard to a report today claiming that 'talks between [Tom Hicks] and Dubai International Capital collapsed after the Dubains proposed putting a fans' representative on the Anfield board', I can confirm after consultation with Mr Hicks and his representatives at the meetings with DIC that at no time during any such meetings did DIC propose, nor did Mr Hicks or his representatives reject, any such proposal."

The latest spat serves to underline the deep disagreements between Hicks and DIC. After a day of talks on Monday in Dubai, Hicks' representatives and DIC reached deadlock, with the Texan finally breaking off negotiations. The move came as a shock to DIC, but although it has avoided making any further public statements, it is believed the investment body still wants to buy a stake in Liverpool.

The suggestion that a fan with full voting rights would be installed on the board followed meetings with supporters groups on the Kop on Saturday, when a DIC representative watched the 3-0 win over Newcastle from the famous stand.

Hicks has vetoed any move by his partner George Gillett to sell a 49% stake in the club to DIC, but DIC plans to investigate the legality of that move and still wants to buy Gillett's stake. Hicks is believed to have wanted DIC to be a virtual sleeping partner while contributing cash to build a new stadium and for transfers.

MARCH 10
Reds future up in the air

Ireland On-Line

Liverpool’s co-owner Tom Hicks on Monday night threw the future of the club back into turmoil by terminating discussions with the Dubai royal family.

In a shock move, the Texan business tycoon broke off talks with Dubai International Capital (DIC), who had been confident of sewing up a deal to buy out 49% of co-owner George Gillett’s 50% stake.

Hicks had to give the go-ahead for that move – but instead he has exercised his right of veto, saying he was unwilling to manage the club with DIC “by committee”.

DIC said they had no comment to make, but sources close to the deal believe Hicks’ statement does not necessarily mean the end of the story and the investment arm of Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, could yet clinch a stake in the club.

Hicks’ statement read: “Based on a meeting held earlier today in Dubai between my representatives and officials of Dubai International Capital LLC, as well as other recent contacts between us and them, I have decided to terminate any further discussions with DIC regarding their possible purchase of a minority stake in Kop and, in turn, in the club.

“DIC made it clear that if they invested in the club, they would want it to be managed by committee.

“Based on my 13 years of successful experience as an owner of professional sports teams, and based in particular on the situation at Liverpool Football Club over the past year, it is clear to me that such a committee approach would not be in the best interest of Kop, of the club or of the club’s loyal and passionate supporters.

“Accordingly, I have decided to exercise my right under the Kop Football (Holdings) Limited partnership agreement to veto any sale of any portion of Kop and the club to DIC.”

Hicks added there were other alternatives to pursue.

He said: “I and my colleagues and representatives will continue to explore a number of other options with regard to the ownership of Kop and the club aimed at achieving an appropriate ownership, financial and organisational structure for Kop and the club over the long term.”

The only chance of a deal being rekindled is if Hicks’ statement is merely an attempt to force DIC and Gillett to accept his terms.

A DIC spokesman said only: “We have no comment to make.”

Either way, the relationship between the parties appears to have broken down - something that could be a problem if they were to be co-owners of the club in the future.

As far as Liverpool are concerned however, it is back to square one with Hicks and Gillett at loggerheads – even more so now the Texan has vetoed the sale - and there are only 17 months until the £350million loan the Americans took out in January has to be refinanced again.

Furthermore, another loan of around £300million will have to be taken out to finance the building of the new stadium at Stanley Park.

MARCH 10
DIC in advanced talks with Reds

BBC Sport Online

Dubai International Capital (DIC) has announced it is in advanced talks to buy a stake in Liverpool.

But in a statement the investment agency, owned by the ruler of Dubai, also confirmed crucial aspects of the deal had yet to be decided.

It said: "Dubai International Capital confirms that it is in advanced discussions with the co-owners of Liverpool Football Club.

"But no agreement has been reached on price or shareholding percentage"

DIC has already said it would be open to a power-sharing agreement with one of the club's American owners Tom Hicks.

The investment group's lead negotiator Amanda Staveley said the firm would be "prepared to accept a 49% shareholding in Liverpool FC".

Hicks and fellow American George Gillett took control in a deal worth £218.9m in February 2007.

But their own relationship has broken down and the pair - Hicks in particular - have been the target for strong criticism from supporters.

It is believed Gillett is willing to sell but the situation is further complicated by an agreement between him and Hicks that means one cannot sell his share without the agreement of the other.

MARCH 8
Hicks hits out at DIC

By Tom Adams - Setanta Sports

Whilst Liverpool enjoyed a fifth straight win on Saturday afternoon, the turmoil behind the scenes continues at Anfield with Tom Hicks hitting out at potential partners DIC.

The Dubai-based consortium have been in talks over a deal that will see them purchase 49 percent of the club, with George Gillett’s remaining 1 percent going to Hicks to ensure he is the leading shareholder.

It is believed that the deal is still on, but Hicks has criticised DIC advisor Amanda Staveley for leaking personal emails and has warned that there are a number of interested parties for the Anfield club.

"DIC is one of several potential minority investors we are or will be talking to," Hicks said in a statement to the Associated Press.

"As for Amanda Staveley, who has a reputation for being pretty smart, she should know better than to publicly put words in my mouth, particularly words that she knows or should know perfectly well aren't true.

“She should also know better than to release actual copies of my private correspondence to the press. If she thinks that is an appropriate way to acquire a stake in Liverpool FC, she'd better think again."

The saga over the £500 million takeover has been an unwelcome distraction for a club that is attempting to focus on Champions League qualification, but Saturday’s 3-0 win over Newcastle leaves them three points clear of Everton in fourth, having played one more game than their Merseyside rivals.

MARCH 8
Gillett agrees to sell out of Liverpool FC

icLiverpool

Liverpool FC co-owner George Gillett last night agreed to sell his share in the club to Dubai International Capital.

The breakthrough came after DIC agreed to top up Gillett’s profit on his LFC investment from an instant £40m to a potential £80m, depending on future club success.

Crucially the terms of the deal would see 1% of Gillett’s holding in the club go to his American co-owner Tom Hicks for around £500,000, making the Texan the club’s majority shareholder.

DIC, owned by Sheikh Mohammed Al Maktoum, would agree to take on the £350m debt arranged by the Americans in a controversial re-financing deal earlier this year.

Last night’s agreement would value Liverpool FC at £430m, rising to a maximum £510m if the future profit sharing clauses were triggered.

The potential additional £40m Gillett could look forward to is contingent on Liverpool’s success both on the field and in financial terms – agreed targets would have to be hit. Lawyers are yet to thrash out the finer details of the deal which will now become dependent on the agreement of Tom Hicks.

Last night Amanda Staveley, of private equity group PCP who is representing DIC, said the company was willing to accept the minority holding at Anfield subject to certain conditions.

MARCH 7
Hicks may win battle over Liverpool FC

By Tony Barrett - Liverpool Echo

Tom Hicks is edging closer to taking majority control of Liverpool FC.

DIC has indicated it may now be willing to take a 49% stake by buying out all but 1% of George Gillett's shares.

The remaining 1% could then be bought by Hicks, leaving him as the majority shareholder - a scenario one Anfield figure has described as "a potential nightmare".

It is believed DIC has not dropped its desire to buy the club outright in the future but for the time being may be ready to enter into a deal which would see Hicks investment increase.

The situation is further complicated by the fact Liverpool's current co-owners are speaking to DIC separately and even though Hicks is now believed to have indicated he will not block DIC in their bid to take a minority stake, the Dubai consortium would still have to convince Gillett to accept its offer.

Gillett is still to agree to sell though and having fallen out so dramatically with Hicks it remains questionable whether he would be willing to do any deal with him.

The Hicks camp remain insistent that although they are aware DIC has indicated a change of stance, they have not yet received any formal notification from them regarding this.

But the two parties could meet in Dubai next week.

The current situation will further dismay and confuse Liverpool fans who are seeing a complex deal for the future of their club being played out via the media on an almost hourly basis.

Paul Lunt, a litigation partner at Liverpool law firm Brabners who specialises in shareholders rights, said: "The impasse highlights the unattractiveness of being a minority shareholder.

"Tom Hicks and DIC have been in talks about the future ownership and control of Liverpool , and it seems both are willing to consider the possibility of some future role for the other.

"The sticking point seems to be the fact that neither party is willing to accept a role as a minority shareholder; each of them will only consider a controlling stake.

"This is not surprising. The strict rights of a shareholder holding less than 50% of the shares in a private limited company are generally fairly limited.

MARCH 6
Hicks to meet DIC next week

Ireland On-Line

Tom Hicks is expected in London early next week to discuss the future of Liverpool with Dubai International Capital.

The club's co-owner has been in a stand-off with DIC all week over their attempts to buy Liverpool for £400m (€522.6m).

He is believed to have assured Amanda Staveley, DIC's chief negotiator in the UK, that he will be prepared to talk business at the same time as Liverpool will be in Italy preparing for their Champions League showdown with Inter Milan.

By the time Liverpool return from the San Siro, the future ownership of the club could be known - and a DIC source said: "We are in the end zone."

DIC is the financial arm of Dubai's ruler Sheikh Mohammed bin Rashid Al Maktoum, and Staveley reports directly to him and chief executive Sameer Al Ansari - a lifelong Liverpool fan who has been the driving force behind two attempts to buy the club.

DIC have been encouraged today by claims that Hicks has agreed not to block the sale of his co-owner George Gillett's 50% holding.

Hicks has also intimated he is still not prepared to sell any of his stake - but DIC appear prepared to go with that suggestion, for now at least.

The source said: "To accommodate a deal, DIC, within reason, would accept certain agreements.

"It looks as if we are in the home straight. A deal involving both parties could be imminent."

After a week of constant cross-Atlantic negotiations through Staveley, lawyers and accountants, DIC are confident they will eventually control Liverpool.

It is also believed that Gillett, who has wanted out for some time, is not willing to sell a small percentage of his stake to Hicks.

DIC dispatched a representative to Anfield last night to watch the Barclays Premier League match against West Ham from the Kop - where he was able to judge the mood of fans and hold general discussions with members of the 'Spirit of Shankly' group who have been campaigning for the end of the Americans' rule at Anfield.

Fans chanted against the Americans before the game and at half-time, but not during the match or at the end.

MARCH 6
Hicks 'set to move on Dubai'

By Tony Barrett - Liverpool Echo

A deal for Dubai International Capital to buy George Gillett's Liverpool stake is imminent, it has been claimed.

Sources close to DIC today revealed Tom Hicks is ready to drop his resistance to George Gillett selling his stake in Liverpool Football Club to DIC.

An offer from DIC for Gillett’s shares remains on the table and should the American accept he would walk away from Anfield with a profit of around £40m.

Gillett is believed to want more and DIC remain insistent they will not be raising their offer but with talks still going on between the two parties it is thought a deal could be reached within days.

Hicks’ reluctance to enter into any sort of partnership with DIC is well known and on several occasions he has spoken of his willingness to use a veto to block any such deal.

But he has been in touch with DIC in the last 24 hours to tell them he will not stand in their way if they can agree a price with Gillett. He has also told DIC he is willing to enter into talks with them at the earliest possible opportunity to discuss the future of the club.

DIC’s growing confidence that a deal can and will be done saw them dispatch a representative to Anfield for last night’s Premier League game against West Ham.

The representative met with members of various fans group in a bid to gauge their opinion about the club and the best way forward for it.

He also witnessed first hand the latest protest by fans against the current owners with a demonstration which lasted the full 15 minutes of the half-time interval.

The Spirit of Shankly has already indicated it is ready to offer DIC a cautious welcome and would be prepared to enter into a dialogue with them.

MARCH 5
Now take the money and run

By John Thompson - Liverpool Echo

The future of one of the world’s greatest football clubs hangs in the balance today.

Liverpool FC is at the centre of a wicked tug-of-war with American owners Tom Hicks and George Gillett, in the eyes of fans, wanting a huge fortune to release it from their grasp.

Yesterday the two Americans, who are at loggerheads with each other, were offered a generous profit of £25m each on their year-old investment by Dubai Investment Capital.

With the pair so divided, there is surely no way now they can ever repair the damage between themselves, and at Anfield, and continue at the helm.

Late last night, DIC sources say the pay-off offer to Gillett, was increased to a staggering £80m. Yet, once again, he has rejected it.

It seems Liverpool FC is nothing more than a crude bargaining chip on the roulette table of high commerce, while the fans who love the club can only look on helpless.

Business may be business but both men, Gillett in particular, today stand to make such an enormous personal fortune from Anfield that it almost beggars belief they should decline.

These men must no longer stand in the way of a solution to this crisis.

They’ve been offered a fortune by the Dubaians to step aside. And they have a moral obligation to accept.

Common decency demands an end to this unedifying episode today.

The dollars are on the table for Hicks and Gillett, but it is the dreams of thousands of loyal fans which they hold in their hands.

MARCH 5
Liverpool FC boss Gillett
ponders massive DIC pay-off

By Tony Barrett - Liverpool Echo

George Gillett is pondering a vastly improved offer for Liverpool Football Club from Dubai International Capital.

Sources close to DIC suggest the bid would allow Gillett to walk away from the club with an £80m profit.

But sources in the Gillett camp argue the figure is £40m.

The revised offer was put to Gillett late last night.

DIC indicated they would not raise their offer again even though their interest in buying Liverpool remains as strong as ever.

Gillett instructed his lawyers to attend the meeting at a top London hotel on his behalf, and DIC was represented by top businesswoman Amanda Staveley.

Liverpool chief executive Rick Parry was also there having been invited by DIC and Gillett to represent the best interests of the club.

Gillett was unable to attend in person as he is recovering from illness at his home in Vail, Colorado, but he was in constant phone contact with all parties.

Sources close to Gillett dispute the £80m figure, insisting the offer would have given the American a profit closer to £40m.

But what is beyond any doubt is the fact DIC raised their initial offer to win his 50% stake.

With Tom Hicks still sticking to his guns and insisting he is not looking
to sell his stake, the future of the club remains delicately poised.

Unless one party gives way the present situation is likely to continue.

The impasse has caused uproar among many Liverpool fans with the Spirit of Shankly group planning a protest against the club’s American owners during half time at tonight’s Premiership home clash with
West Ham.

Spokesman Neil Atkinson today told the ECHO the time has now come for Gillett and Hicks to quit the club.

He said: “We can only urge Tom Hicks and George Gillett to take the DIC offer and leave. Liverpool FC

“Al-Ansari talks about Tom Hicks’s valuation of the club being ‘in dreamland’; Mr Hicks is further in dreamland if he thinks he will ever be accepted at LFC.

“He’s a rich man, a business man, but surely, being as rich as he is, he wants to be able to enjoy his investments.

“If he tries to grin and bear it then it emphasises what we already know – he’s only in it for one reason - the money and the money alone.

“Let Mr Hicks and Mr Gillett go now with profit and a modicum of grace. Let us start again with new owners, keep our eyes open and work with them to get that family silver polished.”

Rogan Taylor, head of ShareliverpoolFC which has launched a fans’ buy-out bid, said: “We will continue to monitor this situation, but it won’t lessen the effort and commitment we are putting into our serious and robust proposal.

“We would like to see the fans have a full and proper say in the running of their club. We are ready to talk to the owners about making that a reality.

“I strongly believe that ShareLiverpoolFC will have a significant role to play - we have strong momentum following launch and fans are joining by the hundreds on a daily basis.”

MARCH 5
Fans group still plan Reds takeover

TEAMtalk

Share Liverpool FC insists DIC's offer to buy out the Anfield club will not prevent them pushing forward with their own takeover bid.

The fans' organisation hope to attract 100,000 people willing to invest £5,000 each to run Liverpool along similar lines to other member-run sides such as Barcelona.

The initiative's founder, Dr Rogan Taylor said: "We will continue to monitor this situation but it won't lessen the effort and commitment we are putting into our serious and robust proposal.

"We would like to see the fans have a full and proper say in the running of their club. We are ready to talk to the owners about making that a reality.

"I strongly believe that Share Liverpool FC will have a significant role to play - we have strong momentum and fans are joining by the hundreds on a daily basis."

Meanwhile Dubai International Capital are awaiting developments following their latest attempt to take over the club.

DIC - the investment arm of the Dubai government - on Tuesday made
a £400million offer to buy out American co-owners Tom Hicks and
George Gillett.

With Hicks having indicated a strong desire to retain his 50% stake, the key to the balance of power would appear to rest with Gillett.

Selling his share to DIC would net him a £25million profit on his investment but Hicks, who is believed to have first option, could also buy him out to take total control.

Hicks has not formally rejected DIC's offer but a source close to the Texan say his position remains as entrenched as ever.

Hicks is only interesting in dealing with parties which would allow him to retain the majority shareholding.

Yet should Gillett choose to work with DIC, who have no interest in joint control with Hicks, the club could be left in a difficult position with opposing parties owning each half.

Whether or not it would come to that, however, is doubtful as sources close to DIC, Hicks and Gillett have suggested a deal must be worked out soon.

The American pair face a difficult short-term future following their recent refinancing of the funds they used to buy the club 13 months ago.

That package loaded £105million of debt onto the club, of which £60million is earmarked to kickstart the club's new stadium development.

It is also anticipated that they will soon need to return to the banks to ask for a further £300million in loans to cover the rest of the project in Stanley Park.

It is believed DIC turned their attention to Gillett after finding Hicks
an immovable object in negotiations.

"It's no secret that we have been in discussions with the current owners," said DIC chief executive Sameer Al-Ansari.

"It's not easy because the owners are in dreamland about valuations at
the moment."

Al-Ansari later clarified that one of the club's owners "had come out of dreamland", without giving further details, although it seems unlikely he was referring to Hicks.

Should Gillett decide to sell, it is thought Hicks would have 90 days to exercise his option to buy.

Hicks has already said it is "premature" to say he has already raised
the money with loans from American business colleagues.

DIC may have to accept that Hicks cannot sell at the moment because he is raising money in the US by floating his entire sports empire - Dallas Stars, Texas Rangers and Liverpool.

Thor Zakariassen ©