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01 March 2024

Liverpool club talks stuck on valuation

By Agencies


A Dubai government-run investment fund said on Tuesday it has been in talks with Liverpool football club's US owners about possibly buying a stake, but one of the club owners "was in dreamland" about valuations.

"It's no secret that we have been in discussions with the current owners," Dubai International Capital (DIC) Chief Executive Sameer Al Ansari told reporters at a conference.

"It's not easy because the owners are in dreamland about valuations at the moment," said Ansari of Tom Hicks and George Gillett. He later clarified that one of the club's owners "had come out of dreamland", without giving further details.

Hicks said last month he was not planning to sell a stake in the British soccer club, denying press speculation that he was in talks with DIC over a sale.

The Times, without citing a source for the information, said on Tuesday that DIC was confident Gillett would accept its offer of $397 million for his 50 per cent of the club, but said there were claims that Hicks was ready to exercise his option to buy out Gillett's stake.

Hicks said in January he had talked to DIC "once" about a 10-15 per cent stake but Dubai said at the time the valuation was too high.

Hicks and Gillett completed a refinancing deal in January that should allow them to go ahead with the building of a new stadium.

DIC had been considering a bid for the club last year before pulling out.

Liverpool are planning to build a new stadium on parkland adjacent to their current Anfield home, though the plans have changed and been delayed several times. (Reuters)