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Sep 15, 2008

DIC not interested in Liverpool or Newcastle

Following claims that Newcastle United owner Mike Ashley has tried to interest them in a bid to buy the club, the Middle East investment arm of the Dubai government, DIC, have moved to disassociate themselves from any deal and have also denied that they are still trying to buy Liverpool.

However, while DIC is now no longer being used as the financial vehicle to try to buy the club, Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum is now handling the situation as a personal venture.

His negotiations have been carried out in the UK by a company, PCP, run by Amanda Staveley, involved in the recent and rapidly completed negotiations for the successful purchase of Manchester City by an Abu Dhabi group. Sheikh Maktoum is believed to still want to buy Liverpool, but that negotiations with American co-owners George Gillett and Tom Hicks have not progressed during the summer.

With the current owners having failed to raise the funds to build a new stadium and the need to re-finance their current loans at Liverpool by the end of the year as Royal Bank of Scotland, with whom the bulk of their loan finance is involved, have not yet granted a six-month extension, new investment seems a necessity.

Yet DIC have disassociated themselves from any deal: "Following inaccurate speculation regarding DIC and Liverpool FC, DIC can confirm that it is not involved in any negotiations to buy LFC and can confirm that it is not planning a fresh bid for LFC or any other football club. Nor is DIC or any other Dubai-based party aware of any consortium or vehicle involved in a bid.

"DIC has not mandated PCP to act for DIC or to act for them in any matter whatsoever. DIC would like to wish LFC and its fans a successful future."

Gillett, who attended Saturday's win over Manchester United, along with member of the Hicks family, met representatives of the Liverpool fans' group, the 'Spirit of Shankly', prior to the match. The group made it clear at the meeting that they wanted the American owners to sell up.

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