E-mail Article
Printer Friendly
Share Article
DIC: profit not only goal of Liverpool bid
Dubai International Capital – the investment company interested in a $880m takeover of Liverpool Football Club – has denied allegations that it plans to sell the club in 2014 after making a huge profit.
Yesterday the UK’s Daily Telegraph newspaper reported that DIC is looking to borrow as much as $588m to finance a possible purchase of the club, but that ‘a confidential document’ seen by the newspaper suggests that it could be sold again in seven years' time.
The article would have caused uproar among fans of the club, as it suggested that funds for new players would not be available.
“When they sell in seven years' time they are hoping to make a huge profit, providing a return of around 25 per cent on their investment for every year of ownership,” the newspaper said. “There appear to be no plans to invest in new players.”
But a DIC source, quoted by the BBC, denied that the investment was purely a business deal.
"DIC has not yet formally made an offer, never mind completed a deal. Certainly there are no plans to exit an acquisition not even yet bought. [The DIC] is a very serious investor with considerable resources at its disposal and the ability to take a long-term view.”
DIC has held talks with Bank of Ireland, Royal Bank of Scotland and Bank of America Group about arranging finance, the Daily Telegraph report said. DIC claims it has a long-term strategy in place for the club, with significant funds for new players, AP reported.
The takeover by DIC, an investment arm of Dubai's government, is supposed to be worth $880m and expected to include the construction of a new 60,000-capacity stadium.
Quick Links(Residental)
Filter by address:
No Comments