DECEMBER 28
Investors deny Kop out talk

By Mark Staniforth - PA Sport

The investment company behind the proposed takeover of Liverpool have claimed there is no way they would plot the sale of an asset they do not yet own.

Dubai International Capital felt the need to respond to a newspaper report on Wednesday which suggested they hope to sell the club in 2014.

But a DIC source on Wednesday night assured Liverpool fans they would view the takeover as more than just a business deal and promised manager Rafael Benitez cash to rebuild the Reds squad.

They said: "What DIC is doing is planning to make sure that, if a deal is done, Liverpool has the best possible funding in place going forward under DIC stewardship.

"This is particularly important as we would need to get on with the stadium early in 2007 and it takes time to sort out the necessary financing.

"This is also important in terms of making sure cash is available for the ongoing strengthening of the playing squad.

"Should DIC acquire the club, Liverpool will be well run, both on and off the pitch, and we are currently laying the groundwork to ensure that will be the case."

But DIC officials have pointed out they are yet to successfully conclude their takeover of the club and that, as a result, talk of plans to sell it off for profit are premature.

The source added: "DIC has not yet formally made an offer, never mind completed a deal. Certainly there are no plans to exit an acquisition we have not even bought yet.

"It (DIC) is a very serious investor with considerable resources at its disposal and the ability to take a long-term view.

"Equally, we believe that we understand the responsibilities that come with owning Liverpool Football Club.

"DIC has made it clear that, should a deal be concluded, it would not interfere in the day-to-day running of the club."

DECEMBER 27
Consortium planning to buy
Liverpool could sell in seven years

AP/CNN

The Dubai-based consortium trying to buy English Premier League club Liverpool doesn't plan to be the sole owner and could sell for a large profit in seven years time, a newspaper report claimed Wednesday.

Earlier this month, Liverpool said it was in "exclusive negotiations'' with Dubai International Capital (DIC), a consortium led by Sheik Mohammed bin Rashid al-Maktoum, for a possible takeover of the storied soccer club.

DIC considers its purchase of Liverpool solely as a business deal, and plans to borrow up to 300 million pounds (US$587 million; ?447 million) to finance its 450-million-pound (US$882 million; ?670 million) purchase of the club, Britain's Daily Telegraph reported Wednesday. The newspaper cited investment documents shown to potential investors.

By selling in seven years, DIC would provide a return of around 25 percent on its original investment for every year of ownership, the paper said. It did not elaborate.

DIC would not be the sole owner of Liverpool, unlike Malcolm Glazer at Manchester United and Randy Lerner at Aston Villa - who are both Americans who also own NFL clubs - and Russian billionaire Roman Abramovich at Chelsea.

The Daily Telegraph said 30 percent of the 90 percent stake DIC is bidding for will be offered to outside investors. It said three banks - Bank of Ireland, RBS and Bank of America - had been approached for financing.

A new stadium, estimated at 240 million pounds (US$470 million; ?357 million), to replace Anfield is key to the deal, the paper said.

In September, Liverpool received the go-ahead to build a 60,000-capacity new stadium, clearing the way for the Reds to leave the 45,000-seat Anfield after 114 years and move to a part of nearby Stanley Park, depending on financing.

Six Premier League clubs are under foreign ownership, with Man U, Chelsea and Aston Villa joined by Portsmouth, Fulham and West Ham.

DECEMBER 19
Morgan regrets failed Reds deal

TEAMtalk

Steve Morgan, Liverpool's third-largest shareholder, admits that he should have bought the club when he had the chance.

Morgan, who made his millions in the building and hotel industries, is about to lose the prize he has wanted for years to the Dubai International Capital group, who are currently engaged in due diligence ahead of an expected £450million bid for the club.

Two years ago, Morgan reached a provisional agreement with chairman David Moores, before backing out of the deal after his own due diligence had revealed the full extent of the costs for a new stadium.

Morgan wanted to re-negotiate the share price with Moores, offering less per share, and the deal collapsed, much to his regret now.

He said: "My bid was pre-Istanbul, pre-Rafa Benitez settling into the club and pre-the Sky TV deal.

"If I'd had a crystal ball and seen all these things in advance then maybe I should have done the deal at the time. Hindsight is a wonderful thing."

Morgan's dream has been ended with the club about to be taken over by DIC, the investment arm of the Dubai government, representing the ruling Maktoum family.

And Morgan believes that the deal now on the table will go through and be operational by the end of January.

He said: "It seems that they are well on now with their due diligence, from what I hear I do not see any reason why it should not go through. Probably sometime in mid to late January. That seems to be well on target."

And that would end Morgan's own shareholding, because DIC are aiming at a 100% takeover, which will force every shareholder to eventually sell to them.

Morgan, speaking in a Radio Five Live interview, has a word of warning, though, for foreign investors.

He said: "I don't really know the answer to why foreign bids for our clubs are more prevalent. Maybe because things look better from the outside looking in, sometimes things look better than they actually are.

"All the clubs in the Premiership cannot be successful, there's winners and losers and we all know who the winners and losers are likely to be. Some people will inevitably get their fingers burnt."

He added: "In my case, I wanted to buy a Premiership football club because I am a lifelong fan. I did see it as a business investment, of course I did, but the attraction for me to buy Liverpool was that I am a die-hard fan.

"What foreign-based buyers see is more long term. They are looking for world brands, with Liverpool, Manchester United that is exactly what they have got.

"But people seem to have got this supposed £450m completely wrong. They will probably pay around £150m, the balance is the debt that is in the club which is around £90m and the building of the new stadium which is anything between £200m to £230m.

"That is where the £450m comes from. But the one thing that the sheikh and Dubai International Capital will not be doing is to write out a cheque for £450m.

"They won't write a cheque for anything like that, they will do the deal on debt, particularly the stadium, and quite rightly so."

He said: "If someone puts that kind of equity in they will fund the stadium on debt. It will all come out in the wash but even some of the existing debt will be financed on debt.

"There will not be this huge wall of cash coming in that everybody seems to think.

"The lion's share of this £450m is for the stadium. You will have a wonderful asset that will take the club forward for many years to come.

"The stadium is the asset, it is what DIC will see the greater part of their return coming from.

"DIC are a private equity company, they are on it for a return, they are business people."

And Morgan reveals that there is little difference between the DIC bid and his own attempt to buy the club.

He said: "If you look at the arithmetic, my bid was not very much different to the Dubai bid, I was going to build a stadium and take on the debt.

"That's £300m of the £450m now being mentioned. The difference now is that when I put my bid in, I was bidding for part of the club, not all of it. I was bidding to buy around 60%.

"I wanted to leave the fans owning 40%. But the DIC will be for a full 100% of shares.

"It is different because the existing shareholders, and the chairman in particular, will recoup a lot more cash from this bid than they would have done from me.

"But with me the fans would have still owned shares if my bid had gone through."

DECEMBER 13
Parry: Reds won't be 'rich man's plaything'

By Martyn Ziegler - PA Chief Sports Reporter

Liverpool chief executive Rick Parry insists the club will not become a "rich man's plaything" if the prospective takeover by Dubai International Capital (DIC) goes through.

The firm, an investment company for Dubai's ruler Sheikh Mohammed, is still working through the club's accounts but is expected to make a formal offer for Liverpool worth around £450million.

The Sheikh is reckoned to be the fifth richest person in the world with a fortune that dwarfs even the wealth of Chelsea's billionaire owner Roman Abramovich, but Parry insists the takeover will not see Liverpool indulging in profligate spending.

He insists the takeover, which would include funding for a new stadium, can secure Liverpool's position among the elite for the next century.

Parry told the Liverpool FC magazine published today: "We are focused on success but we want a club that will not be ludicrously profligate. It is not just about throwing money at a challenge, that is not a sound long-term strategy.

"It is definitely not about being a rich man's plaything. It is about taking Liverpool FC to the next level and securing the future of the club for the next hundred years."

Parry said the aim would be for Liverpool to use the investment to run the club as a successful company and take advantage of their international fanbase. He said DIC would benefit from being associated with a global brand.

"It is ensuring that we maximise our revenue-generating potential and running the club as successfully as we possibly can," said Parry, who is expected to keep his position with DIC chief executive Sameer al-Ansari possibly becoming chairman.

"At the same time it is choosing the right partner, it is paramount to ensure that such a partner understands the values and heritage of the club and respects them.

"The most important aspect of our heritage is success and winning trophies. That is the thing that matters most to everyone who follows Liverpool and that will always remain the focus.

"We have absolute confidence that DIC would be very good partners for a club of our size and stature.

"We are a global brand and it is crucial that any deal is a corporate investment with the club run as a top-class business.

"What a new partner would benefit from is a great heritage that has generated a worldwide fanbase."

Parry insisted that suggestions the takeover was already "a done deal" were exaggerated, but admitted he was excited at the possibilities.

He added: "We always look forward with a focus on the challenges ahead, not least the new stadium and the need to get on with that rapidly.

"In that sense it is a proposal not without risk, but we are all very excited about the long-term future of the club and hope we have found an ideal partner.

"Things are not over yet, despite suggestions to the contrary saying it is a done deal.

"Detailed negotiations continue, and we are clearly very excited to have reached this stage because discussions have been going on for a long time."

Parry confirmed that should the takeover go through current chairman David Moores would be give some kind of boardroom role.

He said: "David Moores will have a role to play moving forward. Of course he wants that.

"After all, he is a lifelong fan not just the owner. He always sees himself as a trustee rather than majority shareholder."

A DIC source told PA Sport: "We are very much in agreement with Rick Parry's remarks. If we do a deal we would aim to have a long-term relationship with Liverpool. We will get the stadium built and help the club move on to the next level."

DECEMBER 7
Trust Moores, urges Dalglish

By John Thompson - Liverpool Echo

Reds legend Kenny Dalglish today threw his weight behind the proposed Anfield takeover by Dubai and urged supporters to trust Liverpool chairman David Moores on the issue.

Dalglish conceded many fans would be seeking reassurances with the Dubai government's investment company Dubai Investment Capital behind a possible £400m plus investment package which could soon end the tradition of local ownership.

Said Dalglish, the last manager to bring the title to Anfield in 1990: "Fans will be seeking a wee bit of comfort at the moment.

"But I believe they can rest assured that David Moores would not be selling it to anyone unless he was absolutely convinced they were the right sort of people and it was the right thing to do.

"He will be acting in the best interests of Liverpool Football Club - not himself. You can be sure of that.

"I have said before that he has been a brilliant chairman for the club and as far as I'm concerned the supporters can trust his judgement on this.

"He has supported all of the managers he has had and put his hand in his pocket to provide them with the money for players they wanted.

"But because he is quiet and doesn't seek the limelight, he doesn't get the plaudits he deserves."

DIC lawyers are currently examining Liverpool's books with a view to formalising an offer - provided no problems arise in the next few weeks.

Moores, who holds a 51% controlling interest at Anfield and has been Liverpool's chairman for the past 16 years, may stay on in an honorary role, with chief executive Rick Parry continuing in his role to ensure stability.

Dalglish added: "I think it is really important for anyone coming in that David Moores and Rick Parry would be staying there to provide that stability.

"If Rick Parry, like the chairman, thinks this is the right deal then it will be right.

"Obviously the club needs funds for a new stadium and this would provide the funds for it.

"The new owners will also know that Liverpool have a great man at the helm in Rafa Benitez.

"They will be buying a great club - one which is ready made to be taken forward smoothly."

DECEMBER 7
Sheikh is not a Roman ruler

Sports View With Echo Sports Editor John Thompson

The comparisons this week between Roman Abramovich and Sheikh Mohammed bin Rashid Al Maktoum may have been inevitable.

But in another sense they are also crude and misleading.

The two may have immense personal fortunes in common. But that is about all.

Abramovich was a young opportunist in Russia, his personal wealth largely accrued from the chance which the end of Communism offered to someone sharp-eyed enough to see it in an impoverished, iron curtain super power.

The wealth in Dubai, however,comes from what lies naturally beneath its desertlands, oil wealth which is being invested to build Dubai up into one of the modern wonders of the economic and tourist world.

The business planning and visionary expertise thathas gone into spending and investing Dubai's riches is a far cry from anything Abramovichcan claim.

So any portrayal of Liverpool's hoped fordeal with Dubai as a prize fight between two super rich men seeking a playground for a battle of egos is wrong.

Truth is that while Sheikh Mo, as he is affectionately known, is the ultimate power here, the man most closely involved with the Reds' negotiations is the head of Dubai International Capital, Sameer Al Ansari.

It is rumoured he has the Anfield crest permanently on his mobile phone and take it as red -he does genuinely support Liverpool.

But he also has 20 years as afinance and investment professional, vast experience with anumber of well known multi-national companies in Europe and the Middle East including BDO, Ernst &Young, and Dubai Aluminium Company.

He is also a boardmember on several companies locally and internationally including Dubai Media Inc, Dubai Holding and Dubai International Financial Centre.

He is a Fellow of the Institute of Chartered Accountants in England & Wales and holds an Honours BSc in Accounting & Financial Management, plus a Diploma in Industrial Studies. Had enough?

In other words, he is a highly educated, talented, professional executive - not the sort to let a beating heart rule a cool head, to boast about his yachts or surely tell Rafa Benitez which striker to go out and buy.

That is why if Liverpool were ever to pass into the realm of an overseas investor,then those who hold the power and the purse strings in Dubai seem as suitable as any fan could hope to have behind their club.

Sheikh Mohammed and the people he surrounds himself with are of the highest calibre, not crude or classless in the way they conduct themselves or go about their business.

They are also winners to the core, so much so that one respected British racing pundit whohas seen their role in the Godolphin racing stable's success, has said Reds fans should rejoice at the prospect of this deal.

It has not happened yet. And while it probably will, until the ink is dry on the paper work no Kopite should burst open the bubbly and proclaim anew era at Anfield just yet.

But should the moment come, the first toast should be to Liverpool chief executive Rick Parry and chairman David Moores.

They are on the verge of pulling off what seems to be the greatest deal in the history of Liverpool Football Club, possibly of any football club.

Amid immense public pressures,they have carefully bided their time to hopefully now place Liverpool into the best hands they could hope to find anywhere in the world.

DECEMBER 7
I'm sure this is no fake Sheikh

Andy Proudfoot Lives The Dubai Dream - Daily Post

So it appears that the long search for investment is over.

We've seen the dodgy Thais and the Scouse Tycoon, the Krafty Yank and the Harlem Globetrotter come and go, and it appears we're to be bought up by Richie Rich himself, Sheikh Mohammed bin Rashid Al-Maktoum.

While there was a superficial attraction to being under common ownership with the Globetrotters - we'd probably win every game, and the ball could be tied to Xabi Alonso's boot with elastic - the involvement of the Dubai ruler has acomforting feel about it, given his widely accepted beneficial impact on the British racing scene.

Though it's unlikely that the Kop will find a catchy tune to serenade him a la Rafa, the fans will welcome him with open arms if he's able and willing to provide the funds that mean we sign an Alves rather than a Pennant, or aSimao rather than an Aurelio.

Forget the charity shop, we're off to Harrods...

It's already clear, however, from the consistent comments offered by those who claim to know the Sheikh's operating style, and that of DIC, the investment arm which will actually own LFC, that we will not be adopting an Abramovitch-style kid-in-a-toy-shop approach to soaking up the world's best talent and then storing it neatly on a bench in West London.

These guys seem to like their investments to work for them, not diminish in value as they rot from under-use, whether they be football players or property developments.

If it works out this way, then we'll be all the better for it. A large part of the joy of success comes from knowing you've worked hard for it, and the achievements of Chelsea in recent years still have that sheen of unreality, the nagging doubt that they don't really deserve it undermining their acceptance as a truly great football team.

Do we really want to be owned by a Middle-east investment group? These guys own Madame Tussaud's don't they? Haven't we got enough dummies?

You only have to look north towards Hearts to see how the knight-in-shining-armour can be revealed as a-fruit-cake-in-his-underwear once he's inside and unsaddled his horse.

Only time will tell here of course, but there's no reason to doubt DIC's pedigree, or their commitment to sporting excellence.

There's no track record of fleecing supporters, or of saddling their acquisitions with ludicrous debts like the purchasers of our friends down the East Lancs Road.

So let's park the xenophobia, and judge their proposals on their merits, and by their apparent empathy with the values of LFC.

With a chief executive, Sameer Al Ansari, named after two of our best centre-backs, they can't be all that bad.

Far better, I feel, that the Sheik's dirhams are spent shrewdly and judiciously, luring truly high-quality players to meld with home-grown talent, and the best youngsters spotted from around the world. Abit like Arsenal in fact, but with more trophies.

Are there any potential pitfalls which we're overlooking as we rush to spend Sheikh Mohammed's moolah?

DECEMBER 6
FA won't intervene in Reds takeover

TEAMtalk

The Football Association will not get involved in takeover talks which could see the ownership of Liverpool fall into foreign hands.

Reds chief executive Rick Parry confirmed earlier this week that the Dubai International Capital, the investment arm of Dubai's government, had been allowed the inspect Liverpool's accounts as part of an anticipated £450million buy-out.

Should the deal eventually go through, the Merseyside giants would become the seventh Premiership team to be controlled by a foreign owner, following on from Chelsea, Manchester United, Portsmouth, Aston Villa, Fulham and West Ham.

Although manager Rafael Benitez has welcomed the development, it has received criticism from UEFA, whose spokesman William Gaillard, while not condemning the concept of foreign nationals owning clubs, expressed concern about the impact an increasing number of 'super-rich' teams would have on the competitiveness of domestic leagues.

For the FA, the matter is straightforward. Unlike in Spain, where clubs tend to be owned by the supporters, football clubs in England have traditionally been owned by individuals or a small number of directors.

And the feeling inside Soho Square is that is would be 'utterly impossible' to discriminate against any potential owner on the grounds of nationality.

Although there are some thorough 'fit and proper person' regulations in place which apply to any individual owning more than a 33% stake in a club, they relate generally to previous instances of fraud or whether someone has been banned from being a director of a company.

Such rules are hardly relevant to Sheikh Mohammed, the world's fifth-richest man and head of the DIC consortium, leaving him clear to complete the deal.

With DIC accountants now poring over Liverpool's financial affairs, it could be another three weeks before there are any major developments.

Benitez has already been warned not to expect any extra cash to spend during next month's transfer window, although reinforcements were anticipated anyway as Liverpool look to improve their domestic form after an inconsistent start to the season.

DECEMBER 6
Dubai investment is new Red dawn

By Tommy Smith - Liverpool Echo

You really can feel the sense of excitement and anticipation in the air at the proposed takeover of Liverpool by Dubai.

Of course there are some people with natural concerns and we are yet to learn the full details.

But the vast majority of supporters do seem to be licking their lips at the prospect of this happening now.

Although, until the deal is sealed nothing can be taken for granted.

Let's hope there are no hitches or problems and that we can finally end the long-running saga at Anfield about investment and ownership - and get that new stadium built at last.

I'd urge all supporters to hopefully see this as the start of a new adventure for Liverpool in just the same way as Bill Shankly's arrival at Anfield was an adventure at the start of the Sixties.

Shanks came in, saw a sleeping giant that was in dire need of change and modernisation. And he set about it with a zeal on and off the pitch.

Liverpool are hardly a sleeping giant - we've won too many trophies in the last few years to say that.

But for so many years in the 60s, 70s and 80s we were the best or up right up there with the best.

Yet Liverpool haven't won the league for 16 years and it's way too long.

If we are to start winning the title again and keeping up with the Chelseas, Arsenals and Manchester Uniteds, then we've got to accept the need for change, however painful or sad it might seem.

We are still the number one club in Britain - and if the people in Dubai agree this deal with David Moors and Rick Parry then let's hope we'll have the number one owners not only here, but in the world as well.

I hope it goes ahead smoothly and amicably and then we can all enjoy the ride!

DECEMBER 5
The billionaire for whom anything is possible

Tony Barrett finds out just who
Sheikh Mohammed bin Rashid al-Maktoum is
and why he wants to spend
£450m to buy Liverpool FC

By Tony Barrett - Liverpool Echo

There are currently 793 billionaires in the world, according to international finance experts Forbes.

And Sheikh Mohammed bin Rashid al-Maktoum - "Sheikh Mo" to his friends - is, if you listen to those in the know, one of the best of them.

"He would probably be the shrewdest of the bunch," says Luisa Kroll, associate editor at Forbes magazine.

When you consider the "bunch" includes the likes of Microsoft founder Bill Gates and the Sultan of Brunei, that's not a bad testimonial to have on your CV.

Estimates of Maktoum's personal wealth are varied simply because so much of his money is tied up in major investments all over the globe, but Stan Lock, a stock trader for the investment management company Brewin Dolphin Securities, reckons he could "buy Liverpool with spare change".

Maktoum certainly makes his money work for him and Dubai Investment Capital, the overseas investment arm of Dubai Holdings, recently acquired the Tussauds Group for £800m and Travelodge for £675m.

His personal ambition, and the ambition of the Dubai government and the multitude of investment companies which he leads, is seemingly boundless.

"Under Sheikh Mohammed," says Khalaf Al Habtoor, a billionaire construction magnate whose firm helped build hotels, hospitals and airport facilities in Dubai, "anything is possible".

But the question is, why would he - or, at the very least, his associates - buy Liverpool Football Club?

"It is partly driven by the desire of companies like Dubai International Capital to broaden their international portfolio," says Professor Tom Cannon, the Merseyside-born Dean of London Business School.

"They are looking to build up a broad spread of investments in companies outside Dubai that are both stable and secure.

"Their ambition is huge. They have recently bought Tussauds and the London Eye and they even tried to buy a number of American ports, including Philadelphia, but that was blocked by the US Senate."

The man most closely connected with the bid to buy Liverpool is Sameer Al Ansari, a Reds fanatic who is also Chief Executive Officer of Dubai International Capital.

He has acted as the figurehead in the deal but business insiders believe the interest goes all the way back to Maktoum himself.

"Ansari is a key player in Maktoum's whole operation," says one. "He is very highly thought of, but it is highly unlikely that he would have completed a move of this scale without being given the go-ahead by Maktoum.

"You have to think of Dubai as a PLC which is ruled by a chief executive who gives orders to a board of hand-picked subordinates. They then implement policy without the need for approval from any elected body.

"Maktoum is the country's chief executive and he either owns or controls the companies that run almost everything of any significance."

Their plans for Liverpool FC are, as yet, unknown. Depending on who you speak to the proposed deal is either simply an investment or it is the starting point of an attempt to turn Liverpool FC into one of the biggest hitters in world football.

"I would be astonished if they ploughed significant amounts into squad rebuilding," says Prof Cannon. "It is more likely to be part of a portfolio building strategy."

But racehorse trainer Mick Quinn, a lifelong Liverpool fan, believes that, should he invest in the Reds, the Crown Prince of Dubai could have a similar effect on football.

"First and foremost, he is a winner," says Quinn.

" Maktoum got involved in racing in the 1970s and he took on all the big stables like Oppenheimer, Sangsters and the Aga Khan's. He surpassed them.

"He pumped a lot of money into it, he's very hands on and the success this has brought is there for everyone to see.

"Maktoum is very competitive - all he wants is to win."

DECEMBER 5
UEFA fear with Reds takeover closer

Sporting Life

The impending takeover of Liverpool by the fifth-richest man in the world will add weight to calls for Europe-wide restrictions on spending on transfers and wages by clubs.

Lawyers and accountants working for Dubai International Capital (DIC) - a firm owned by Sheikh Mohammed bin Rashid Al Maktoum, the billionaire ruler of the emirate of Dubai - began looking at Liverpool's accounts in the build-up to making an offer for the club.

If, as seems certain, the takeover goes through Liverpool could have access to the sort of money for new players and wages that would dwarf the sums spent by Chelsea owner Roman Abramovich.

Many in European football fear such takeovers will widen the gulf between super-rich clubs and the rest, and UEFA and the European Commission are currently considering new rules that would tie spending to a proportion of a club's revenue.

UEFA communications director William Gaillard told PA Sport: "There is no doubt the immediate threat in the short term is a huge increase in the gap between the haves and the have nots, and in the long term lead to inflation in wages and transfer fees and a concentration of power that could destroy the game.

"That is why UEFA are in favour of the Independent Football Review's proposals where a club is limited to spending a proportion of its revenue.

"The more super-rich football club owners there are, the greater the pressure there will be for such rules.

"Having said that, we do not have a position on foreign ownership of clubs within a country - to us the nationality of the owner is irrelevant - and we prefer a model such as Spain where club ownership is spread widely among the fans."

The proposal is a key part of the Independent Football Review which is being used as the basis of a new European Commission white paper.

The Review says: "The aim is not to place an upper limit on what players can earn but simply to prevent those with the deepest pockets buying all the best players and therefore dominating competition, contrary to the interests of the sport and the public."

Sports minister Richard Caborn insist he has no problems with the increasing number of foreign owners of Premier League clubs - but says the trend highlights the need for new rules to ensure good governance.

Caborn, whose strong support of the Review has brought him into conflict with the Premier League, said: "As long as the clubs are properly licensed and run there is no problem with foreign ownership.

"This does highlight the importance of the European white paper which will cover the whole question of ensuring there is good governance of clubs."

Manchester United, Chelsea, Portsmouth, Aston Villa, and most recently West Ham are the other Premiership clubs who have recently been taken over by foreign owners.

DECEMBER 5
Sport is the new oil of Dubai

By Mark Jeffreys - Daily Mail

If the Maktoum family offer Liverpool the same financial clout and commitment they have afforded horse racing, Anfield fans will be in for the ride of their life.

The Maktoum brothers, spearheaded by Sheik Mohammed, who reputedly has a net worth in excess of £7billion, have turned their racing operation into a world force.

From a handful of horses in 1992, Sheik Mohammed, now the ruler of Dubai, has invested his precious time, money and energy into making Godolphin the envy of the racing world, with his globe-trotting operation blossoming to earn 132 Group One races in 11 countries.

Godolphin, with Arsenal fanatic Frankie Dettori their retained jockey, are known in racing as 'The Boys In Blue', a rich irony unlikely to be lost on Everton fans. Sheik Mohammed is the figurehead of the dozen or so sheiks, including his brother Sheik Hamdan, who own about 3,000 horses between them and have splashed out staggering sums to realise their dreams.

The Maktoum family have also invested in Arsenal's Emirates Stadium, spent £100m setting up the A1GP motor racing and have coaxed the International Cricket Council to relocate from Lord's. Manchester United are also planning to set up their first football school in Dubai. And that is just the start.

Just like footballers, however, some of his racing investments have failed to deliver.

He once famously splashed out £5.2million for SnaafiDancer, a colt so slow in training he never made it on to the racetrack — and was later found to be infertile at stud. He paid £4.9m for a Storm Cat colt and the later-named Jalil could manage only sixth place as an odds-on favourite at Newmarket on his debut in October.

Godolphin, who run Darley Stud as their world-wide breeding empire, hone their massive string in Dubai in the winter and privately fly them into their plush headquarters at Newmarket in late April in time for the Guineas meeting.

'No finish line in the race for excellence '

Although their performances on the track fell below expectations last Flat season, Sheik Mohammed, the controller of Dubai Holdings, his country's giant investment arm, has never had qualms about wielding the chequebook with gusto to put his operation back on the rails. If he wants a horse, he usually gets it.

If successful, Liverpool could have the world's best pedigree players at their disposal, just like the blue-breds the Sheik assembles with scant regard for the costs.

At the Keeneland Sales last September, he had spent £30m by the close of the auction's third session, including £6m for one colt. It will be interesting to see whether his bidding for players is so enthusiastic.

Sheik Mohammed's passion for racing has seen Nad Al Sheba emerge from the desert to become one of the world's most pristine and famous racecourses.

Its showpiece meeting, the Dubai World Cup boasting £10.1m in prizemoney, is targeted by some of the sport's best horses.

Sheik Mohammed, the poet, politician and sportsman, who completed his military training at Sandhurst, is known for fierce competitiveness and is not afraid to take risks.

"In the race for excellence there is no finish line," is one of his many mantras. The Maktoums' quest to be the best in racing, however, has not won unconditional support.

Just as Manchester United, Arsenal and Chelsea are accused of monopolising the talent, the Maktoums had the same charge levelled at them by the Washington Post at the Breeders' Cup meeting in October.

They were accused, among other things, of 'buying the game'.

But it is now obvious sport is the new oil of Dubai.

Liverpool awaits.

DECEMBER 4
Benitez won't get Sheik's millions until summer

By John Edwards - Daily Mail

Liverpool will come under the control of Sheik Mohammed, the world’s fifth-richest man, but Rafa Benitez may have to wait to spend some of his fortune.

The Sheik’s investment group, Dubai International Capital, began examining the club’s accounts on Monday with a view to a £450million takeover.

But the ruler of Dubai and vice-president of the United Arab Emirates, who also controls the world’s biggest horse-racing operation, will finance major transfers only after addressing recent losses.

While Roman Abramovich continues to give Chelsea manager Jose Mourinho licence to spend almost as he wishes, the Sheik will adopt a more businesslike approach.

But in a clear warning to the Premiership champions, sources close to the Sheik underlined his resolve to make Liverpool a dominant force again, nearly 17 years after their last title success.

One businessman with links to Dubai International Capital outlined the Shiekh’s motives by saying: "This is not a case of the club being his personal plaything. DIC’s role is to look for interesting and exciting opportunities for business growth in different parts of the world.

"Sameer Al Ansari, DIC’s chief executive, is a Liverpool fan and has been to various matches. Ultimately, though, this will be a business deal."

With the Sheik taking pride in the profitable nature of recent acquisitions, such as the Tussauds group and Travelodge Hotels, he is likely to keep Benitez waiting until next summer, at the earliest, for the sort of transfer backing that will rival Chelsea, not that the Spaniard seemed too worried yesterday.

Benitez said he had talked to chairman David Moores and chief executive Rick Parry about the situation "and I was pleased with what I heard. It is always good to have more money and more possibilities".

DIC will buy most of Moores’s 51 per cent stake and almost certainly the 9.9 per cent held by Granada, with the shares changing hands at £4,500 each, as opposed to the £3,200 believed to have been agreed by building tycoon Steve Morgan before he pulled out of a proposed takeover just over two years ago.

Moores wants to retain a 10 per cent holding and stay as chairman, though he may become life president to allow Al Ansari to take on his role. Parry will continue to oversee the day-to-day running of the club in his role as chief executive.

Parry said: "DIC is a potential investor with the resources and philosophy that we believe could make them an ideal partner. Already they have demonstrated a full understanding of, and respect for, the club’s heritage and values."

If the Maktoum family offer Liverpool the same financial clout and commitment they have afforded horse racing, Anfield fans will be in for the ride of their life.

The Maktoum brothers, spearheaded by Sheik Mohammed, who reputedly has a net worth in excess of £7billion, have turned their racing operation into a world force.

From a handful of horses in 1992, Sheik Mohammed has invested his precious time, money and energy into making Godolphin the envy of the racing world, with his globe-trotting operation blossoming to earn 132 Group One races in 11 countries.

Godolphin, with Arsenal fanatic Frankie Dettori their retained jockey, are known in racing as ‘The Boys In Blue’, a rich irony unlikely to be lost on Everton fans.

Sheik Mohammed is the figurehead of the dozen or so sheiks, including his brother Sheik Hamdan, who own about 3,000 horses between them and have splashed out staggering sums to realise their dreams.

The Maktoum family have also invested in Arsenal’s Emirates Stadium, spent £100m setting up A1GP motor racing and have coaxed the International Cricket Council to relocate from Lord’s. Manchester United are also planning to set up their first football school in Dubai. And that is just the start.

Just like footballers, however, some of his racing investments have failed to deliver.

He once famously splashed out £5.2million for Snaafi Dancer, a colt so slow in training he never made it on to the racetrack — and was later found to be infertile at stud. He paid £4.9m for a Storm Cat colt and the later-named Jalil could manage only sixth place as an odds-on favourite at Newmarket on his debut in October.

Godolphin, who run Darley Stud as their world-wide breeding empire, hone their massive string in Dubai in the winter and privately fly them into their plush headquarters at Newmarket in late April in time for the Guineas meeting.

Although their performances on the track fell below expectations last Flat season, Sheik Mohammed, the controller of Dubai Holdings, his country’s giant investment arm, has never had qualms about wielding the chequebook with gusto to put his operation back on the rails. If he wants a horse, he usually gets it.

If successful, Liverpool could have the world’s best pedigree players at their disposal, just like the blue-breds the Sheik assembles with scant regard for the costs.

At the Keeneland Sales last September, he had spent £30m by the close of the auction’s third session, including £6m for one colt. It will be interesting to see whether his bidding for players is so enthusiastic.

Sheik Mohammed’s passion for racing has seen Nad Al Sheba emerge from the desert to become one of the world’s most pristine and famous racecourses.

Its showpiece meeting, the Dubai World Cup boasting £10.1m in prizemoney, is targeted by some of the sport’s best horses. Sheik Mohammed, the poet, politician and sportsman, who completed his military training at Sandhurst, is known for fierce competitiveness and is not afraid to take risks.

‘In the race for excellence there is no finish line,’ is one of his many mantras. The Maktoums’ quest to be the best in racing, however, has not won unconditional support.

Just as Manchester United, Arsenal and Chelsea are accused of monopolising the talent, the Maktoums had the same charge levelled at them by the Washington Post at the Breeders’ Cup meeting in October.

They were accused, among other things, of ‘buying the game’. But it is now obvious sport is the new oil of Dubai. Liverpool awaits.

DECEMBER 4
Liverpool takeover talks confirmed

Times Online

Liverpool have confirmed they are in "exclusive talks" with the Dubai International Capital group (DIC) about a possible takeover of the club.

As reported in The Times this morning, the subsidiary of the Arab state government is close to agreeing a £450 million deal to take control of the five-time European Cup winners.

The Merseyside club have been searching for an investor to secure the club's long-term future for three years and Rick Parry, the club's chief executive, believes a DIC takeover would be enormously beneficial to the Anfield outfit.

"This is the latest step on the road of finding the long-term investment that the club needs," he said.

"DIC is a potential investor with the resources and philosophy that we believe could make them an ideal partner.

"Already they have demonstrated a full understanding of, and respect for, the club's heritage and values.

"We also believe they share our passion for success. In particular, DIC believes in investing in the businesses it acquires. This is very important in terms of the proposed new stadium, which is key to plans for the regeneration of the local community."

Under the terms of the proposals, it is believed that DIC - effectively owned by the al-Maktoum family, the billionaire rulers of Dubai - will take on the club’s £80 million debts and provide up to £200 million for a new 60,000-capacity stadium, in addition to meeting Moores’s £170 million valuation of the club.

In theory, this would allow work to start on the stadium in Stanley Park within months, while also providing funds for Rafael Benítez, the manager, to compete at the top end of the transfer market, but it is too early to say whether it would generate the kind of money that has enabled Roman Abramovich to turn Chelsea into the world’s richest club - or indeed whether Liverpool, a club based on tradition and sensible housekeeping, would even favour such an approach.

Liverpool have attracted offers from several other bidders, most recently George Gillett, the American billionaire, and John Miskelly, the Belfast-born property tycoon, but after serious consideration they are understood to have granted DIC, a subsidiary of the government-owned Dubai Holdings, due diligence, which gives them exclusive rights to study their accounts with a view to finalising a deal.

The precise details of the proposals remain unclear, with uncertainty over whether it will be a full-scale takeover or whether DIC will merely take over from Moores as majority shareholders. It is also unclear whether Moores, whose family has been part of the furniture in the Anfield boardroom for 50 years, will stay in some capacity, but there have been indications that Parry will continue as chief executive.

Unlike the Glazer family’s takeover of Manchester United last year, there is no great opposition to overseas investment in Liverpool, with many supporters regarding it as an opportunity to restore the club to the glory days of the 1970s and 1980s. There were serious concerns expressed when Thaksin Shinawatra, then Prime Minister of Thailand, made a high-profile bid to invest in the club in May 2004, but they had more to do with Thailand’s human rights record than with the principle of overseas ownership.

There is certain to be concern, however, within the FA Premier League, which is known to be worried by the number of its clubs that have fallen into foreign ownership. In addition to Manchester United and Chelsea, Aston Villa, Portsmouth and West Ham United are all now owned by overseas investors.

DECEMBER 4
£400m to start a new era

Chris Bascombe traces the history of missed
chances and false promises over the years

By Chris Bascombe - Liverpool Echo

It is appropriate that Liverpool head back to the scene of their greatest comeback today.

Off the pitch, the most lucrative deal in the club's history, with a man wealthier than Roman Abramovich, will be noted by generations to come as a fightback of equal significance.

With the clock ticking on the club's dreams of building a £180m stadium, a three-year pursuit for investment is finally on the brink of conclusion, ensuring that the Stanley Park plans proceed.

The stakes could not have been higher for the Liverpool hierarchy, with the temperature within the boardroom increasing daily.

A multi-million pound deal with one of the richest economies on the planet would represent a stunning hat-trick for chairman David Moores and chief executive Rick Parry.

Not only have they ensured that the Stanley Park stadium can be built, but the resources Rafael Benitez craves should also be available.

More significantly, the long-term financial security of Liverpool Football Club would be strengthened through an alliance with one of the richest and most stable economies on earth.

To put it into perspective, Liverpool's last strategic partnership, when Granada purchased a 9.9% stake for £21m in 1999, looks no more than a generous handshake with a Big Issue salesman in comparison to the wealth and powerof the United Arab Emirates.

And although the imminent agreement should not be compared with the Roman Abramovich takeover of Chelsea, even the Russian looks like a pauper when stood alongside the UAE royal family, who are ultimately the power behind Dubai International.

The wealth of the Emirate states is measured in trillions, not billions.

Their pockets are deep, and if a successful Liverpool Football club becomes their ambition, their financial insecurities can be consigned to history.

The first priority of the club is to safeguard the stadium plans so the Dubai group should not be seen as an Abramovich style benefactor willing to sign the cheques which will allow Benitez to make Chelsea-style bids for players.

Fans or rival clubs expecting an instant series of £20m offers for the world's top stars would be misinterpreting the deal.

But as well as helping to pay for the stadium, it would be illogical if funds were not also made available to the manager. The concerns he's expressed should be eased, if not completely eradicated.

That said, it would also be unwise for Liverpool to advertise an increased transfer kitty too publicly.

As the board said at last year's AGM, "all roads lead to investment". After hitting a cul-de-sac for so long, Liverpool can now drive forward unobstructed.

If the process concludes as well as anticipated over the next three weeks, Parry and Moores can share a glass of bubbly with a sense of relief, triumph and satisfaction of a job, eventually, well done.

The process of attracting investment has been painful, emotional and expensive.

The chairman was on the brink of resigning in public on at least two occasions, while behind the scenes he was tantalisingly close to selling part of his stake to rival Steve Morgan.

Morgan valued the club at £70m and vowed to invest millions more, but he refused to proceed with a deal which would see Moores claim 51% of his bid.

Either side of the local entrepreneur's forlorn proposal, the club flirted with some of the richest men on the planet, with Parry clocking up air miles with a prolific zeal.

The lowest point was arguably Parry's meeting with Thai prime minister Thaksin Shinawatra in May, 2004.

When the Liverpool chief executive was pictured in Bangkok, it provoked a furious reaction from human rights campaigners, urging the Reds to steer clear of such dirty money. The meeting with US businessman RobertKraft last season was greeted more enthusiastically, but Parry's trip to America was as much a fact finding mission as arealistic bid for cash.

Kraft financed his New England Patriots American football stadium by entering a partnership with Gillette.

While the Thai and American links led to brief media hysteria, Liverpool were still no closer to securing investment.

Less publicised interest emerged from Arab countries, with the Abu Dhabi government understood to be showing their interest in late 2005, and investment groups from Saudi Arabia and Dubai increasingly linked with stadium sponsorship.

An alternative plan would see Liverpool follow the Arsenal blueprint and take a £200m loan from a variety of banks.

However, this strategy was incredibly risky, effectively mortgaging Liverpool's future based on a decade of Champions League participation.

Parry wisely advised against this from the start.

Liverpool were urged to reopen the shared stadium debate in order to cut costs. Parry steadfastly fought against these outside pressures, maintaining his confident stance that he would deliver.

By November 2006, Belfast businessman and lifelong Liverpool fan John Miskelly appeared to be in pole position.

He valued the club at £140m, preparing to pay £4,000 a share to take control of the club. In addition, he was prepared to consider ploughing in a further £80m to underwrite stadium costs and provide manager Rafa Benitez with a transfer kitty.

Rival bidders were prepared to pay £4,400 ashare, valuing Liverpool at more than £150m.

Parry and Moores also met George Gillett Jnr, an American businessman best known as the owner of Canadian Montreal Ice Hockey team and former owner of the Harlem Globetrotters.

But Gillett also favoured are opening of the shared stadium debate with Everton, which meant Liverpool were less enthusiastic about his interest.

Parry knew his regular jaunts to the United Arab Emirates offered a regular chink of light in pursuit of investment. The Abu Dhabi government-owned Etihad Airways were close to agreeing a shirt sponsorship deal 12 months ago.

Approaches to Arab investors were increasing in frequency and it was hoped a major investment deal would be struck ahead of last year's AGM, which was deliberately delayed.

Dubai International had negotiated with Liverpool before, but chairman Moores has always been adamant he'd only sell shares to the right bidder.

After years of criticism, Parry and Moores can now justifiably argue they have delivered the goods.

With investment on the brink of being secured, a new stadium backin the realm of reality and transfer funds surely to be made available to Benitez, Liverpool fans can soon allow themselves a smile as bright as one of their chief executive's famously eccentric shirts.

City in a state of luxury

Dubai is one of seven states which make up the United Arab Emirates.

Oil was discovered there in the 1960s, but has now been replaced by tourism as the most lucrative income source.

Dubai City, located on the coast of the Persian Gulf, is growing faster than any city on earth.

The state's beaches, which stretch for 25 miles, are currently home to almost $100bn worth of development projects either underway or planned.

Dubai International Capital (DIC) was established in 2004 as the international investment arm of Dubai Holdings.


Long road to new stadium

August, 2000: Liverpool announce plans for a 70,000-seater stadium on Stanley Park at a cost of around £70m. It is hoped the rewards of regular Champions League participation will meet the bulk of the costs.

May 17, 2002: Liverpool release full details of their plans. A vision of a 55,000 seater stadium by the start of the 2005 season is unveiled, with costs now estimated nearer £90m.

May, 2003: A miserable season ends with Liverpool failing to qualify for the Champions League, having gone out of the tournament in the group stage. Roman Abramovich takes over Chelsea.

January 2004: At a stormy AGM, the costs of Champions League failure are made public. Chairman David Moores says he'll "consider his position" if Liverpool fail to qualify for the Champions League. Shareholder Steve Morgan accuses the club of "fiddling while Rome burns."

May 10, 2004: Rick Parry meets Thai prime minister Thaksin Shinawatra to discuss a £50m investment in the club.

May 12, 2004: Shareholder Steve Morgan proposes to invest £73m into Liverpool by issuing new shares. The deal would involve Moores reducing his 51 % stake. A day later, Liverpool reject the bid.

May, 2004: Gerard Houllier sacked as Liverpool manager. It costs Liverpool a total of £20m to fire Houllier and members of his backroom staff. Rafael Benitez takes over.

July 23, 2004: Councillors accept the stadium plans, but refer a final decision to deputy prime minister John Prescott.

July 2004: A further bid by Morgan leads to the process of "due diligence" at Anfield. Rumours are rife that Moores is on the verge of selling shares taking him below 51%.

August, 2004: Steve Morgan says he's pulled out of further investment talks.

September 27, 2004: John Prescott gives the green light to Liverpool's stadium plans.

December 2004: Liverpool announce record losses of £21m. Moores faces more criticism at the AGM. Stadium costs are believed to have risen to £130m with the capacity now 60,000.

May 2005: A lucrative sponsorship deal with Abu Dhabi-based Etihad Airlines collapses at the last minute. Parry continues to nurture contacts in the Arab states.

May, 2005: Liverpool win the Champions League - and £28m.

October, 2005: Parry meets US tycoon Robert Kraft, owner of the New England Patriots.

February, 2006: The North West Development Agency accepts a £10m grant application to help regenerate the area around Liverpool's proposed stadium.

February, 2006: Stadium costs confirmed as £160m. March, 2006: Rafa Benitez says he needs more team investment to realise his ambitions of challenging Chelsea for the title.

June, July, 2006: Benitez spends an estimated total of £28m on signings.

August 2006: A final deadline of September for Liverpool to cement their plans is put in place by Liverpool city council. Rumours are rife of a £200m bank loan.

October, 2006: Liverpool inform councillors of several investment proposals. The council deadline passes with city planners satisfied Liverpool will have the funds to build their stadium on Stanley Park.

October 27, 2006: An unnamed board member, later identified as former chairman Noel White, launches an astonishing attack on Rafa Benitez in the Daily Mirror. Days later, White resigns.

November, 2006: David Moores and Rick Parry travel to Canada to meet
George Gillett jnr.

November 25, 2006: The Anfield board considers its options.

November 27, 2006: Moores and Parry travel to Dubai for the Soccerex conference.

December 1, 2006: Deal agreed in principle with Dubai International, valuing Liverpool at around £160m, and ploughing funds to underwrite cost of new stadium.

DECEMBER 4
Anfield fans give cautious welcome to latest bid

By Liam Murphy - Daily Post Staff

Liverpool supporters have given a cautious welcome to the latest news about a possible takeover of the club.

It is the latest twist in the long-running speculation about the possibility of a takeover at the club, which remains one of the few prizes in the Premiership for potential foreign investors.

There have been at least two serious contenders for the club, including US billionaire George Gillett, owner of the Montreal Canadians ice hockey club, who was said to be the leading contender.

But Dubai International Capital, Emirates private equity arm, understood to be advised by JP Morgan, the firm which arranged financing for the deal by Malcolm Glazer to take over Manchester United, appears now to be the favourite to take over.

Wealthy Belfast-based property tycoon John Miskelly is thought to be a third bidder.

Last night, Richie Pedder, of the Liverpool FC Supporters Club, said a buy-out was "inevitable" for Liverpool to remain competitive.

He said: "I think it's got to happen.

"We need more money coming into Liverpool, and if this is the only way then it has to happen."

He said it was important that the ground was still called Anfield and fans would be waiting to see the outcome of negotiations.

Mr Pedder said: "All the other clubs are doing this, and I think fans are slowly coming round to accepting it, with Manchester United and Chelsea racing ahead. I think this is the right move.

"There are certain players we can't afford now because Chelsea and Man Utd are coming in and buying them."

He said a buyout could help make Liverpool FC more competitive in the Premiership.

Les Lawson, of the Merseyside branch of the Official Liverpool Supporters Club, sounded more of a note of caution.

He said: "Whoever takes over will have to have the best interests of the club at heart and follow its traditions."

But he said he was confident chairman David Moores and chief executive Rick Parry would choose the best buyer for the club.

He said: "Rick Parry once said you only sell the family silver once. They have been looking for nearly three years for investment and have looked down every avenue.

"They do need someone to provide the money so we can compete at the highest level in the transfer market.

"But until we see in black and white what they are proposing, and what the conditions of the buyout are, it's very difficult to say whether we are in favour of it." He said he hoped any buyer came to the club "for the right reasons" to "take it forward and keep the traditions we all know and love".

DECEMBER 2
Anfield in £450m Dubai buyout

By Daniel King - Daily Mail

Liverpool are on the verge of falling into foreign ownership, just like Premiership rivals Chelsea and Manchester United.

But the deal with Dubai International Capital faces opposition from Liverpool fans and the football authorities, who are opposed to another English club falling into overseas hands.

The Anfield board have given the company — the international investment arm of the Dubai government-owned Dubai Holdings — exclusive rights to study the club’s books and complete a deal after rejecting the £450 million bid from American multi-millionaire George Gillett Jnr, as well as up to three other rival offers.

After almost three years of searching for investment to fund a £200m new stadium, to pay off £80m of debts and provide transfer spending, Liverpool have chosen a firm ultimately owned by the billionaire rulers of Dubai, the Al Maktoum family, best known in sport for their ownership of the Godolphin racing stable.

DIC already own British assets, including Madame Tussauds, the London Eye and the Travelodge chain.

It remains unclear whether the company would take over the club lock, stock and barrel, as Gillett would have attempted, or buy a smaller stake for an injection of cash.

It has been suggested that, under a Dubai-run regime, chief executive Rick Parry might keep his job and even chairman David Moores might retain a role, extending his family’s 50-year association with the club.

The bottom line, however, is that another of the greatest names in world football would be controlled from abroad and reports that DIC’s chief executive, Samaeer al-Ansari, is a keen Liverpool fan will not dispel concerns.

If the deal is done, it would raise two new issues on top of the concern expressed by FIFA president Sepp Blatter and others about Chelsea, Manchester United, Portsmouth, Aston Villa and West Ham all falling into foreign ownership in the past four years.

Later this month, FIFA will announce new rules which aim to increase the transparency surrounding club ownership. Although they insist they have no desire or power to stop rich foreigners investing in clubs, involvement of governments in football, even at arm’s length, will ring alarm bells with the ruling body.

Also, the involvement of Dubai investors raises a potential conflict of interest within the Premiership because of Arsenal’s relationship with Emirates, the Dubai-based airline.

Emirates, like DIC, enjoy the status of an independent company but are ultimately an offshoot of the same government.

Rival clubs could argue that such an arrangement would compromise the Premiership’s integrity as a competition.

Both the Premier League and Liverpool Football Club declined last night to comment.

NOVEMBER 27
Liverpool takeover hots up

By Daniel King- Daily Mail

The Liverpool board will meet again this week to discuss rival takeover bids after failing to reach agreement on Friday.

The next stage of the long-running saga will be to give a period of exclusivity to the most attractive consortium from a shortlist of up to four.

Sources suggest that Belfast building tycoon John Miskelly is still very much in the race.

The multi-millionaire is understood to have made the offer closest to the £300 million valuation placed on Liverpool by chairman and majority shareholder David Moores.

American sports mogul George Gillett and the Dubai Investment Corporation are the other two heavyweight candidates, with a group led by former Oxford chairman Robin Herd as the outsiders.

Thor Zakariassen ©