Liverpool the subject of fresh Dubai bid
Sheikh Mohammed, the ruler of Dubai, has reportedly sanctioned an increased offer of £500 million to buy Liverpool.
With the global banking crisis leaving Liverpool’s American owners unable to finance plans for a new stadium in Stanley Park, the club are in danger of treading water.
Cash flow is not a concern for Dubai International Capital, one of Sheikh Mohammed’s investment arms, who are now optimistic that this renewed bid will be accepted.
A report in this morning’s Sun claims the new offer would clear the club’s debt and see Hicks and Gillett both walk away with a profit of £75 million.
Manchester City’s takeover by the Abu Dhabi United group makes the situation of Liverpool’s ownership all the more critical.
With such financial muscle, City can now realistically expect to mount a serious challenge for one of four Champions League places.
Liverpool and Arsenal are most at risk, but the impact of failure to qualify for the Champions League would be much greater at Anfield, where matchday revenues are dwarfed by those raised at the larger and more corporate-friendly Emirates Stadium.
It is estimated Arsenal generate £50 million more than Liverpool every year simply through this means, making the need to leave Anfield all the more pressing.
When they bought the club in 2007, Hicks and Gillett promised work on the new stadium would begin almost immediately.
But with annual interest payments of £30 million and the current financial climate as it is, there are fears on Merseyside that the Texan pair are simply incapable of fulfilling their pledges. |
