Dubai in talks to buy Liverpool FC

Dubai International Capital, the investment arm of the Dubai government, is in talks about a possible takeover of Liverpool Football Club.

"Liverpool's investment requirements are well publicised," DIC Chief Executive Sameer al-Ansari said in a statement read out by his spokeswoman today. "We hope we can agree a deal that will provide us with the opportunity to fund its needs both on and off the pitch."

"DIC will be commencing due diligence in the coming days and continuing its discussions with Liverpool, the result of which may or may not lead to a formal offer by DIC for Liverpool," the DIC said.

Liverpool officials declined to comment.

British newspapers have speculated that the investment will total $890 million, although DIC has not confirmed this figure.

The Times of London reported on Monday that DIC will take on $160 million of Liverpool debt, and provide the club with up to $400 million for a new 60,000 capacity stadium.

Liverpool Football Club is one of Britain's most famous clubs, dominating the English and European game in the 1970s. More recently the team has struggled to compete with Manchester United and Chelsea, which have considerably more financial muscle. A BBC radio commentator said today that Dubai's investment could be a new dawn for Liverpool FC.

Since its formation in 2004, DIC has spent $5 billion on companies including UK-based Travelodge Hotels and London waxwork museum owner Tussauds Group as the Dubai government seeks to lessen its reliance on oil-based industries.
 

The firm last year bought 2 percent of DaimlerChrysler AG for $1 billion and is raising $2 billion to buy stakes in the world's 500 biggest publicly traded companies, according to Bloomberg.

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