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Dubai Group Withdraws Liverpool Offer

In an amazing turn of events, Liverpool will not be taken over by Dubai International Capital Investment, as was widely reported by just about everyone, including the club itself. In fact, the Anfield club was so certain of a takeover by the consortium run by the king of Dubai that it all but rejected the idea of entertaining a bid from American billionaire George Gillett.

At first, anyway. Upon the closer inspection of Gillett's bid by Liverpool chairman and majority shareholder David Moores, DIC pulled its offer, saying the two parties were unable to agree to the terms the group set forth. Sameer Al Ansari, executive chairman and chief executive officer of DIC, said: "We are very disappointed to be making this announcement. DIC are a serious investor with considerable resources at our disposal...however, we will not overpay for assets." The deal would have valued Liverpool at $883 million.

This presumes that Gillett, who owns the NHL's Montreal Canadians and once held interests in the Miami Dolphins and Harlem Globetrotters, has proposed a deal which would bring Moores and the other Liverpool shareholders more value for their holdings

Read the whole story at ESPN Soccernet »

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