DIC close in on Reds
By James Carroll - 26/02/2008 13:54
Dubai International Capital are said to be just weeks away from owning at least some part of Liverpool Football Club.
Reports claim that the Arab investment group are to be granted a period of due diligence, possibly within a couple of days, where they will examine Liverpool's books.
It's thought that DIC will first complete a deal for George Gillett's 50% stake in the club after allegedly agreeing a fee with the American.
Gillett's relationship with co-owner Tom Hicks has broken down, with sources close to the former indicating that it may be beyond repair.
Gillett has remained totally silent since the end of last year and even refused to put his name on the press release for the revised plans of the new Stanley Park stadium.
Hicks, however, isn't as willing to give up his stake in the Reds despite the animosity shown towards himself and his family from supporters angry with his running of the club.
It's claimed that Hicks had attempted to secure the funds to buy Gillett's stake in the club but was unable to do so due to the 'global credit crunch'.
Hicks is thought to be determined to remain at Liverpool in some capacity but DIC want to purchase at least some of his stake in order to become the majority shareholder and be in a position to make decisions about the club when they take control of Gillett's stake.
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