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16.1.07

Liverpool close to £156m takeover

Liverpool are on the verge of agreeing a £156m takeover by the investment arm of Dubai's government.

The club's board of directors will discuss the final proposals by the Dubai International Capital Group at a meeting on Tuesday.

The deal, which will net chairman David Moores more than £75m, is close to bring completed, but is not expected to be finalised until next week.

Moores, who owns 51.6% of shares, made an initial investment of around £10m.

DIC has almost completed its due diligence, but Liverpool are keen to get the deal done in time to allow them to bring in some new players before the closure of the transfer window on 31 January.

It is unclear what level of investment in players will be made available to manager Rafael Benitez should the deal go through.

On Sunday, Liverpool chief executive Rick Parry said the deal was "not a quick fix, a rich man's play-thing. It's a long-term model for success, based around the new stadium".

"This will take us to the next level," he added.

credit:http://news.bbc.co.uk




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