Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
Liverpool's American Owners Look to Middle East
AP, September 30th, 2009 4:30PM

MOST READ

MOST COMMENTED

Liverpool co-owners George Gillett Jr. and Tom Hicks have announced that they are seeking outside investors to help reduce the club's $390 million debt and fund a new 60,000-seat stadium, a project halted in August 2008 because of the global economic downturn. "The owners have jointly retained Bank of America, Merrill Lynch and Rothschild to evaluate the possibility of new investors injecting equity into LFC," Hicks and Gillett said in a statement on Tuesday. "However, the process is at an early stage, there is no agreement with any party."

A Saudi Arabian prince, Faisal bin Fahd bin Abdullah al-Saud, said he has been working on a deal to buy all or part of the club for four months on behalf of Swiss investors and two unnamed banks. F6, a sports investment firm chaired by Prince Faisal, told the Associated Press that it signed an exclusive deal with Liverpool to examine the club's accounts. The prince and Gillett, who is also the majority owner of NASCAR team Richard Petty Motorsports, made public the intention to explore the possibilities of building both NASCAR and soccer academies in the Middle East. "We have reached an advanced step with them in this deal," the prince told Alarabiya TV in Arabic on Monday. "For us it's not just about how much shares we acquired -- 30, 40 or even 50 percent -- what's more important for us is the setting up of academies."

Prince Faisal believes a division exists between club owners Hicks and Gillett, who cannot sell their equal stakes in the club without the other's approval, and that his group F6 can alleviate the club's economic strain. "It's clear to everyone that there is a kind of misunderstanding between Gillett and Hicks, but we won't go into that," the prince said. "We are not there to pacify between them but as Saudi investors ... Liverpool despite its massive history is going through a tough period at the moment like many other clubs and we want to add something to it."

 

Read the original story...


No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Legia Loses CAS Appeal     
Legia Warsaw has said it will sack the administrator blamed for the clerical error that resulted ...
Report: BVB's Sponsors to Buy Stakes     
Borussia Dortmund on Thursday announced that the club would issue up to 24.5 million shares in ...
Simeone: Atletico Can't Compete with Real, Barca    
In an interview with La Gazzetta dello Sport, Atltico Madrid coach Diego Simeone emphasized that despite ...
Dzeko Signs Four-Year Man City Contract     
Manchester City striker Edin Dzeko on Thursday signed a new four-year deal with the defending Premier ...
FA Investigates Mackay, Moody     
Crystal Palace sporting director Iain Moody resigned on Thursday as the English FA opened an investigation ...
Poyet: 'I've Never Seen Jozy as Happy as Now'    
Gus Poyet, speaking ahead of Sunderland's home clash against Manchester United this weekend, says that USA ...
Ronaldo Fit for Super Cup; Di Maria, Khedira Futures Uncertain    
Real Madrid coach Carlo Ancelotti on Thursday confirmed that Cristiano Ronaldo is fit enough to start ...
Balotelli to Join Liverpool     
AC Milan on Thursday confirmed that striker Mario Balotelli has said goodbye to the club's teammates ...
Report: Mackay Out of Palace Running    
Malky Mackay, who was considered a shoo-in for the vacant Crystal Palace job, is no longer ...
UEFA Investigates Tavecchio Comments    
Italian soccer federation (FIGC) president Carlo Tavecchio is being investigated by UEFA over an alleged racist ...
>> Section 2 Around the Net Archives