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
Report: Barca's Vermaelen May Need Surgery     
Goal.com reports that Barcelona defender Thomas Vermaelen could require surgery to cure the hamstring injury that ...
Messi's Top Ten Records    
Barcelona striker Lionel Messi, who became La Liga's all-time leading scorer (253 goals) following his hat-trick ...
Rodgers Admits His Future Could be in Doubt     
Brendan Rodgers admitted that he could be fired after Liverpool slumped to a fourth successive defeat ...
Gunners Investor Criticizes Wenger     
Alisher Usmanov, Arsenal's second largest shareholder after American Stan Kroenke, on Monday launched a stunning criticism ...
Referee Stark Admits Error Over Reus Challenge     
German referee Wolfgang Stark admitted that he made a mistake by not sending off Paderborn's Marvin ...
Report: Ronaldo Outscoring Many of Europe's Biggest Clubs    
With two more goals in the 4-0 win at Eibar on Saturday, Real Madrid's Cristiano Ronaldo ...
High school vs. club debate rages in New Jersey    
High school vs. club has long been an issue on the boys side, culminating with the ...
Man United's Falcao Out Two Weeks    
Manchester United striker Radamel Falcao will be out for another two weeks with a "new injury", ...
Arsenal's Injury Woes Ahead of Man United Clash     
While much has been made of the injury crisis facing Manchester United coach Louis van Gaal, ...
Bolton Coach Fumes at Klinsmann    
Bolton Wanderers coach Neil Lennon on Friday slammed USA coach Jurgen Klinsmann for what he called ...
>> Section 2 Around the Net Archives