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
Xavi: I Want to be Like Pep     
In an interview with Spanish paper El Pais, Barcelona midfielder Xavi reveals that he wants to ...
Report: Odegaard to Sign for Bayern Munich    
Norwegian wonderkid Martin Odegaard turned 16 on Wednesday, and reports in Germany claim that the Stromsgodset ...
Report: Falcao Wants to Stay, United Unsure    
In an interview with the Guardian, Radamel Falcao says he wants to stay at Manchester United, ...
Real Coasts into Club World Cup Final     
Sergio Ramos, Karim Benzema, Gareth Bale and Isco bagged the goals as Real Madrid coasted into ...
Mourinho Hails Fabregas as Blues Cruise into Semis    
Jose Mourinho singled out Cesc Fabregas for praise following the Spanish midfielder's man-of-the-match performance in Chelsea's ...
Howard Amends Book Following Friedel Dispute    
USA No. 1 Tim Howard accepts that Brad Friedel did not try to block his move ...
Saints Lose Fifth Straight     
Southampton lost its fifth-straight game in all competitions on Tuesday as League One side Sheffied United ...
Ander Herrera: I Have Never Fixed Games     
Manchester United midfielder Ander Herrera insists that he has never been involved in game-fixing after he ...
Roma Fury at Fine, Garcia Ban     
AS Roma on Monday was fined 20,000 euros ($25,000) and its coach Rudi Garcia was banned ...
Report: Actual Cost of Suarez's Barca Move: $315 Million     
Luis Suarez's move from Liverpool to Barcelona last summer topped Goal.com's 2014 Goal Transfer List study, ...
>> Section 2 Around the Net Archives