Dubai admits rival bid for Liverpool

by Ben Flanagan Sunday, 28 January 2007

Dubai International Capital (DIC), the investment arm of the Dubai ruling family, is still confident that its $880m bid for Liverpool Football Club will succeed, despite having acknowledged a higher offer for the stake by an American rival.

Related Stories

Liverpool has confirmed to the London Stock Exchange that it has received an approach by George Gillett Jr, billionaire owner of the Montreal Canadiens ice hockey team, and has said that this “may or may not lead to an offer.”
But DIC Executive Chairman Sameer al-Ansari is still confident that the Dubai bid – which is still undergoing due diligence – will succeed.

“I understand [Gillett] offered 5,000 pounds a share, while we offered 4,500 pounds a share. We are very confident the club won't consider the other offer,” he said in an interview at the World Economic Forum in Davos, Switzerland, quoted by Bloomberg.

While Gillett’s offer is higher, the DIC bid also includes a pledge to pay off $158m in debt and build a 60,000-capacity stadium.

Due diligence is thought to be near completion, although there is some work to do on the financing of the new stadium.

However, if the Dubai deal collapsed, Gillett is thought to be in a good position to clinch the deal. He was one of the original bidders for the English club before it entered into exclusive talks with DIC.



Search Property (2042 listed)



Enter a Development, City, Real Estate Agent or Developer name
Property Type
Added to Site
Price Range
to
Bedrooms
Area (in sqft)
to
to

Quick Links(Residental)