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Hicks Could Block Gillett's Liverpool Sale to DIC

  • Guardian, Friday, February 29, 2008 3:45 PM
Texas billionaire Tom Hicks warned Dubai International Capital group that he would block Liverpool co-owner George Gillett from selling his investment in the club to the Arab investment group. Gillett, who recently fell out with Hicks, has been receptive to the prospect of selling his 50 percent stake at a quick profit, but Hicks revealed that any move the Montreal Canadiens owner makes would have to be approved of by him.   

"Not only am I not going to sell, my partner cannot sell without my approval," Hicks told the Fort Worth Star-Telegram yesterday. "So I kind of have the ability to determine the outcome of what is going to happen and I am right in the middle of that."

According to the Guardian, Hicks would allow DIC to purchase Gillett's stake only on the condition that he remain in charge of the club's management structure. DIC has rejected those terms and is reluctant to thrust Liverpool into another 50-50 joint venture that has thus far proved to be damaging to the club. The investment group is determined to walk away from any deal if the impasse continues. In the Star-Telegram interview, Hicks also suggested that one way to fix the situation would be for him to buy out Gillett's remaining stake and become Liverpool's outright owner. "For a lot of reasons I can't discuss, I haven't been able to fix it yet," he said. "But I am preparing to be in a position to fix it."

Read the whole story at Guardian »

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