Dubai International Capital (DIC) has confirmed Monday it is in advanced discussions on buying into Liverpool but admitted that no agreement has been reached on the price or size of any stake.
The investment arm of the Gulf Emirate had been hoping to secure a controlling stake of the legendary English club after one of its American owners, George Gillett, signalled a willingness to sell his 50 percent holding.
Gillett however cannot sell out without the accord of his co-owner Tom Hicks, who wants to retain majority control. Reports in the British media have suggested that DIC could be willing to accept a deal that leaves Hicks with 51 percent of the club and allows Gillett to bow out, a year after he joined forces with his compatriot to buy the club.
DIC, which had been involved in lengthy negotiations with Liverpool at the time Gillett and Hicks took control, said last week that the Americans' were in "dreamland" over the valuation of the club. But it seems a deal is now close. "Dubai International Capital confirms that it is in advanced discussions with the co-owners of LFC but that no agreement has been reached on price or shareholding percentage," a statement from DIC said.
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