Kuwaiti consortium backs off from buying Liverpool FC

January 25th, 2009 - 10:39 am ICT by ANI  

London, Jan.25 (ANI): A Kuwaiti consortium has pulled OUT of negotiations to buy the Liverpool Football Club for a reported one billion pounds, delivering a body blow to co-owner Tom Hicks, who had been at the forefront of bringing the Kuwaitis to the table.
According to a News of The World report, Hicks had dispatched club finance director Phillip Nash, and his Dallas negotiating team of Roy Bailey and Casey Coffman to secure the deal with the worlds 48th richest man Al-Kharafi (worth as much as 11 billion pounds), but the latter called off talks over the price and due to Hicks demands. Hicks valued the club at 600 million pounds, 200 million pounds more than waht the Kuwaiti corsortium was willing to fork out.The new owners were also reportedly asked to cough up 400 million pounds for a new ground, and Hicks also wanted to retain at least a 25 per cent share in the club.
The Kuwaitis,however,insisted on full control at Anfield. Hicks also faced objections from co-club owner George Gillett Jr., who made it clear he would not sell the club unless Hicks was run out of town too. Gillett, who owns 50 per cent of Liverpool, is prepared to sell 100 per cent of the club to the right bidder, but is adamant no deal will be agreed which keep Hicks at Anfield. His message to all interested parties is simple: Ill go, but only if Hicks comes with me.
Hicks is desperate to force his rival out first, and has been using his support of manager Rafa Benitez to promote his chances of survival. Thanks to the bitterness between the co-owners, the chances of a smooth sale of Liverpool now appears remote. (ANI)

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