Liverpool takeover talks in impasse

George Gillett has become disenchanted with Tom Hicks, splitting the team that out-bided Dubai International Capital (DIC) and bought English Liverpool just 13 months ago.

While Hicks insists he is unwilling to sell his share to DIC, and said he will move to block Gillett's sale, unless it was to him, Gillett has responded by meeting with DIC representatives, with the club's chief executive Rick Parry also in attendance.

After late-night talks on Tuesday DIC has tabled a GBP 200 million offer for Gillett's 50-percent stake, a GBP 25 million profit from the original investment. DIC is also ready to buy out Hicks in the same value.

Altough reports suggested Gillett had rejected the offer, it has not been dismissed by Gillett, and the talks are expected to continue.

Hicks, who wants to maintain majority control of the club, is believed to be trying to finance a package of his own to buy out his partner.

DIC's offer to Gillett puts the pressure on Hicks. Even if Hicks could raise the founds to buy the club, it is doubtful if he could get the finance for Liverpool's new stadium.

DIC's stance is to allow Gillett and Hicks time to assess the situation.

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