Liverpool official: Dubai takeover close |
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Published
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Sun, 14 Jan 2007 18:49
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LIVERPOOL, England (AFX) - Liverpool is close to accepting an $882 million takeover bid from a consortium led by the ruler of Dubai.Sheik Mohammed bin Rashid al-Maktoum owns Dubai International Capital, which reportedly is about to buy Liverpool after examining the club's finances for the past month.'A huge amount of work has been going on from both parts. I imagine we'll have something concrete to say relatively soon on that,' Liverpool chief executive Rick Parry told BBC radio on Sunday.If the bid is successful, it will provide the funding for Liverpool's proposed 60,000-capacity stadium, which is to be built near its current Anfield stadium.'There is lot of legal work to do and investigations are going on into the funding of the new stadium, which is a very important project for us,' Parry said. 'It is a case of finalizing the due diligence and pulling everything together, which we hope will be completed relatively quickly.'It is looking positive and yes, I am confident.'Parry said the Dubai consortium had promised to finance new player signings so that the Reds can keep pace with Manchester United, Chelsea and Arsenal.'Their whole business model, with the new stadium at the center, is based on success and that you have to invest to stay at the top,' Parry said. 'It's not going to be a rich man's play thing. It is not a quick fix. It is not about rushing out to buy players for success this season or next season. It is about securing a model for long-term success.'It helps that most of the key people we have been dealing with are genuine Liverpool supporters, so they understand what we are about.'Third-place Liverpool is 14 points behind Manchester United in the Premier League and was knocked out of the FA and League Cups by Arsenal last week. The Reds also have to play defending champion FC Barcelona in the second round of the Champions League.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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