Dubai still bullish about Liverpool takeover

TAKEOVER BATTLE: DIC said it was still bullish about its takeover of Liverpool. (Getty Images)

Dubai International Capital (DIC) is still bullish about its chances of buying Liverpool FC despite having an offer of 400 million British pounds ($793 million) rejected on Tuesday, the UK's Financial Times said on Wednesday.

The newspaper said DIC was unlikely to give up on its efforts to capture the English Premier League giants, without saying where it got the information.

Local newspaper the Liverpool Echo reported on Tuesday that DIC had made a 400 million-pound offer for the club, giving its American co-owners Tom Hicks and George Gillett a profit of 25 million pounds each.

However, the Hicks and Gillett rejected the offer after DIC gave the owners 24 hours to decide.

DIC has denied a deadline had been set. Spokesperson Jehad Saleh told reporters: “No figures have been mentioned [to the public] and talks are ongoing. No timeline has been set on the talks."

Hicks is reportedly committed to retaining his 50% share in Liverpool, while Gillett is reportedly willing to sell.

A report by newswire AP following the rejection said Hicks had made a bid to buy part or all of Gillett’s share in the club. Each owner is unable to sell their stake to a third party without the permission of the other.

The news comes after DIC Chief Executive Sameer Al-Ansari said it had been in talks to buy the club, but that the owners were in “dreamland” over valuations.

He later clarified that one of the owners had “come out of dreamland” without giving further details.

Dallas-based Hicks has repeatedly denied he is willing to sell his stake in the club. He said in January he had talked to DIC about a 10-15% stake, but that his valuation was deemed too high.

The American duo paid $340 million for Liverpool last year, and agreed to take over $87.7 million of debt, but the takeover was funded entirely with borrowed money.

Hicks and Gillett in January announced a refinancing that will release funds for new players and a 71,000-capacity stadium.

Liverpool owners in 'dreamland' over club value
Hicks and Gillett asking for too much for stakes in English football club, DIC says.

Liverpool owners reject $800mn Dubai bid
Hicks bids for Gillett's share in club after turning down offer from DIC, report claims.

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