DIC abandons Liverpool bid
Dubai, June 12, 2008
Dubai International Capital (DIC) has abandoned its bid to buy Liverpool Football Club as the battle between club's co-owners appeared to show no sign of abating, a report said.
DIC chief executive Sameer Al Ansari was quoted in a Khaleej Times report as saying while the Dubai-based consortium would "still love to own" Liverpool and will "continue to be interested" in the club, no deal will possible until current owners Tom Hicks and George Gillett sorted out their differences.
"You have two partners who do not see eye to eye. And we decided that we pull out completely. Let them sort out their problems," Khaleej Times quoted Al Ansari as saying.
DIC was prepared to pay in the region of £510 million for the club, thereby allowing Hicks and Gillett to walk away with a profit of around £40 million each.
Hicks, though, refused to sell his stake and is currently trying to raise the necessary capital to buy out his co-owner, the report said.
But with Gillett privately insistent he will not sell to Hicks at any price there is an impasse which shows no immediate sign of being sorted out, it said.