Saudi billionaire confirms Liverpool FC talks

LIVERPOOL TALKS: Saudi billionaire Prince Faisal bin Fahd bin Abdullah Al Saud is in talks to buy 50 percent of Liverpool FC. (AFP)

A Saudi Arabian billionaire has confirmed he is in talks to buy a 50 percent share of Liverpool Football Club.

Prince Faisal bin Fahd bin Abdullah Al Saud, who was at Saturday’s 6-1 win over Hull City at Anfield, is now in London "discussing the purchase", an official statement said.

On Sunday, it was reported that the prince was looking at a deal worth up to $558m and later an official statement from his office was released by Azhari Kowa, a spokesman for the prince's Fama Group.

“He is in London now discussing the purchase,” the statement from Kowa said.

Prince Faisal is chairman and CEO of F6, a Saudi-based investment and marketing company. The firm said it was in direct talks with George Gillett, the American co-owner of Liverpool, to buy all or part of his stake in the team.

According to Reuters, F6 has signed a memorandum of understanding with the George Gillett Group for exclusive cooperation that would lead to opening Liverpool academies in the Middle East and North Africa and develop race tracks to introduce NASCAR motor racing to the Middle East.

"There was a clause in this agreement that opened the possibility of buying a stake in Liverpool ... It (agreement) also covers business development and the construction of stadia," Gassim Hamidaddin, F6 deputy managing director, told the news agency on Monday.

"We have not reached a final agreement yet ... We are discussing how much 25 percent or 50 percent in Liverpool will be worth."

On Sunday, Prince Faisal was quoted by the Al-Riyadh newspaper in Saudi Arabia as saying: "We are currently seeking to buy 50 percent of the shares in the club which is now suffering of debts worth 245 million pounds."

Over the past few years, investors from Gulf Arab countries have shown growing interest in acquiring soccer clubs, mainly in the English Premier League, which culminated last year in the acquisition of Manchester City by Abu Dhabi United Group for Development and Investment.

Liverpool has been at the centre of this interest after its American owners Tom Hicks and George Gillett said in January they were in talks to sell the club for 500 million pounds, including debt, to a group of investors from the region.

Before that, UAE-based Dubai International Capital vied in 2007 for a stake in Liverpool.

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READERS' COMMENTS

Saudi Billionaire confirms LFC Talks
Posted by Bob Williams, Liverpool, England on Tuesday 29 September 2009 at 12:43 UAE time


Mick, Dubai
"if it means that we have the means to bring on players to assist Torres and Gerrad and not have to rely on underachievers like Mascherano, Insua and Lucas (and you too, Jamie...sorry), I'm all for it".
With supposed LFC supporters like you, who needs enemies. You don't know the first thing about football or you haven't even been to Anfield to make such pathetic comments - probably both!!

Sam Mendes, Hollywood

"Get down to Portsmouth Prince Faisal, a better club by far.

Terrible crime in the Liverpool area and from some of the players too"

Making a laughing stock of yourself trotting out the same stereotypical views of Liverpool which are completely unfounded. As for Pompey being a better club you are living in a fantasy world - best place for you Hollywood!!

pompey
Posted by TG, uk on Tuesday 29 September 2009 at 11:24 UAE time


Best of luck pompey in the fizzy pop league, see you in 10 years, bye bye.

huh
Posted by Mick, Dubai, UAE on Monday 28 September 2009 at 14:58 UAE time


I'm speechless.
Portsmouth...a better team.
Well, obviously. Portsmouth is apparently pure talent.
How can I argue with that?
Crime?

Portsmouth
Posted by Sam Mendes, Hollywood, USA on Monday 28 September 2009 at 12:35 UAE time


Get down to Portsmouth Prince Faisal, a better club by far.

Terrible crime in the Liverpool area and from some of the players too.

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