Hicks targets full control at Liverpool

Dubai International Capital (DIC) may face some competition, not only from Tom Hicks, but also from a group of English Liverpool fans.

While George Gillett reportedly is ready to sell, Hicks has continually denied wanting to do so. While both held discussions with DIC in the last few months, under the terms of their partnership agreement, Hicks and Gillett have each first refusal right on the other's 50 percent stake - meaning one must agree to any sale by the partner.

"Not only am I not going to sell, my partner cannot sell without my approval," Hicks said in an interview with the Fort Worth Star-Telegram. "So I kind of have the ability to determine the outcome of what is going to happen and I am right in the middle of that."

While Hicks is ready to share ownership with DIC, on the condition he remained in control of the management and leads the development of a new stadium on Stanley Park, it is DIC which insists for compleate control, saying the 50-50 venture has been proved to be problematic for the club.

The club's raising value during a period in which American companies with sporting assets have declined sharply in worth, has brought Hicks to try and buy out Gillett. Hicks is seeking an off-market placement of existing shares in Hicks Sports Group, which includes investments in Liverpool, the Texas Rangers baseball team and the NHL's Dallas Stars.

According to the Observer, representatives of US-banking, JP Morgan, have visited Liverpool last week to work on the placement.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.