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Dubai International Capital's temper tantrum
It's a global playground phenomenon: a spat breaks out on the football field and Ahmed/Sanjay/Timmy/Ping flounces off home with his ball, hurling insults over his shoulder.
This was the ugly scene that played out around the British football club Liverpool on Wednesday, as Dubai Investment Capital yanked its $160 million takeover bid.
DIC Executive Chairman Sameer al-Ansari, made a point of saying that, as a fan he wished Liverpool every success, but as a businessman, he was not prepared to overpay for assets.
The extraordinarily emotional statement issued by DIC, carried all the passion the world expects from genuine football fans. But perhaps, as is so often the case when tempers run high in football, a short period of cooling-off might have led to a different - dare I say more sensible - conclusion.
Liverpool Football Club is an under-performing club, not an overvalued one, even at the price George Gillet has offered.
The winner of the Premiership next year will receive a cash prize of £50 ($98 million), thanks to a deal signed by the league for oversees television rights. Champions League football can generate around $50 million with a successful run.
A new 60,000-seat stadium at Stanley park has the potential to double income per game currently netted from Anfield when corporate deals, season ticket sales and sponsorship are calculated.
Not only is DIC's withdrawn bid hard to justify on financial grounds, It is questionable on other business grounds. Is this an organisation that will enter races when there is only one runner? Will it always walk away at the first sign of competition?
Liverpool's board has behaved badly - no question about that - but it hasn't broken any laws in considering other offers. In fact, it might even have been failing to carry out its fiduciary duty had it not put Gillet's proposal to shareholders.
Football is a passionate game. And, as any embittered man on the terrace will tell you, you have to be prepared to lose over and over again before savouring the rare taste of victory.
DIC thought it had this game won. But football is nothing if not cruel. The company should cool off, think again, and get back into the battle for owning Liverpool FC.
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