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Sep, 29, 2009

Liverpool owners actively seeking new investment

Liverpool co-owners George Gillett and Tom Hicks have stressed that discussions with possible investors are at an "early stage" following claims that a Saudi Arabian prince is hoping to purchase up to half of the Premier League club.

Prince Faisal bin Fahd bin Abdullah al-Saud, through his investment company F6, is looking to clinch a deal worth in the region of £200-£350 million and has claimed an agreement has already been reached with Gillett regarding the establishment of a number of academies in the Middle East.

Despite Gillett stating recently that Liverpool were in better financial health than at any other time in their history, the pair, who purchased the club in 2007, have confirmed they are exploring the opportunity of welcoming new investors.

"The owners have jointly retained Bank of America Merrill Lynch and Rothschild to evaluate the possibility of new investors injecting equity into LFC," said a spokesperson on behalf of Gillett and Hicks. "However, the process is at an early stage, there is no agreement with any party and reports to the contrary are wholly inaccurate."

Tuesday's Times newspaper also reported that Gillett held talks with an unidentified Indian billionaire in a central London restaurant at the weekend.

The reign of the American co-owners has been far from smooth with rumours of infighting, an approach to Jurgen Klinsmann and the delay over plans for a new stadium not sitting well with Anfield regulars.

But Hicks and Gillett have extended their refinancing package on Liverpool and remain committed to building a new stadium once the economic climate becomes more favourable.

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