What We're Reading

Kuwaitis Come Back To Liverpool With Lower Offer

  • Guardian, Friday, January 23, 2009 1 PM
Compared with a deal they had lined up last summer, Liverpool FC's U.S. owners Tom Hicks and George Gillett will have to settle for a profit reduced by $150 million if they sell the team to Kuwaiti billionaire Nasser al Kharafi.

The Kuwaiti approached the Americans last year with a view to sealing a $820 million purchase of Liverpool. But with the contracts all but signed, Al Kharafi pulled out of the negotiations, leaving Hicks reportedly "incandescent." Still, Al Kharafi has now come back with a lower offer reported to be around $550 million, taking advantage of the fact that Hicks and Gillettt will likely need to strike a deal before its $477 million in loans with the Royal Bank of Scotland and Wachovia mature in July.

"It is understood that no price has yet been agreed," reports The Guardian. "However, the fact that the details of the negotiations were leaked suggests it is close to being finalized.

Read the whole story at Guardian »

Next story loading loading..