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Takeover could help Liverpool with stadium
England - 06 December, 2006
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Rick Parry, the Liverpool chief executive, said any takeover talks can help the club secure a new stadium deal.
The club had just turned its books over to Dubai International Capital (DIC). The prospective buyer is expected to submit a formal offer soon after Christmas.
"We believe they share our passion for success," Parry said. "In particular, DIC believes in investing in the businesses it acquires. This is very important in terms of the proposed new stadium, which is key to plans for the regeneration of the local community.
"On the pitch, Liverpool remains focused on winning and, here again, this is all about doing a deal that gives us the long-term resources to do that."
The total likely will be near GBP 450million. Broken down, it would be GBP 170 million for a controlling stake, GBP 80 million for existing debts and GBP 200 million for a new stadium in Stanley Park.
DIC chief executive Sameer al-Ansari released a statement, which essentially said he hoped a deal would be struck.
His group is one of half a dozen private equity firms buying up investments around the world on behalf of Dubai Holdings, which is owned by Sheikh Mohammed bin Rashid al-Maktoum, ruler of Dubai and Prime Minister of the United Arab Emirates.
DIC recently bought Madame Tussauds and the Travelodge hotel chain.
English clubs Manchester United, Chelsea, Portsmouth, Aston Villa, and most recently West Ham have been sold to foreign investors.
If the takeover does go through, it is likely current chairman David Moores will keep some role and Parry will remain as chief executive.
Moores has stated that the only way to keep the club's goals within distance is to sell.
Moores owns 51 percent of Liverpool, and has always wanted to retain control and encourage investors to buy into the club.
"This is the latest step on the road of finding the long-term investment that the club needs," Parry said. "DIC is a potential investor with the resources and philosophy that we believe could make them an ideal partner. Already they have demonstrated a full understanding of, and respect for, the club's heritage and values.
The club had just turned its books over to Dubai International Capital (DIC). The prospective buyer is expected to submit a formal offer soon after Christmas.
"We believe they share our passion for success," Parry said. "In particular, DIC believes in investing in the businesses it acquires. This is very important in terms of the proposed new stadium, which is key to plans for the regeneration of the local community.
"On the pitch, Liverpool remains focused on winning and, here again, this is all about doing a deal that gives us the long-term resources to do that."
The total likely will be near GBP 450million. Broken down, it would be GBP 170 million for a controlling stake, GBP 80 million for existing debts and GBP 200 million for a new stadium in Stanley Park.
DIC chief executive Sameer al-Ansari released a statement, which essentially said he hoped a deal would be struck.
His group is one of half a dozen private equity firms buying up investments around the world on behalf of Dubai Holdings, which is owned by Sheikh Mohammed bin Rashid al-Maktoum, ruler of Dubai and Prime Minister of the United Arab Emirates.
DIC recently bought Madame Tussauds and the Travelodge hotel chain.
English clubs Manchester United, Chelsea, Portsmouth, Aston Villa, and most recently West Ham have been sold to foreign investors.
If the takeover does go through, it is likely current chairman David Moores will keep some role and Parry will remain as chief executive.
Moores has stated that the only way to keep the club's goals within distance is to sell.
Moores owns 51 percent of Liverpool, and has always wanted to retain control and encourage investors to buy into the club.
"This is the latest step on the road of finding the long-term investment that the club needs," Parry said. "DIC is a potential investor with the resources and philosophy that we believe could make them an ideal partner. Already they have demonstrated a full understanding of, and respect for, the club's heritage and values.
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