LFC Talk

Price tag putting off potential investors by lfctalk
March 6, 2009, 10:35
Filed under: News

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A Kuwaiti consortium have given the strongest indication yet that they are interested in buying Liverpool Football Club – but they have admitted that Tom Hicks and George Gillett will need to drop their asking price.

The saga is unlikely to be concluded before July, when the American pair are due to refinance a £300m loan taken out to buy the club. The club may be passed into the hands of bankers by then, however, unless the pair reduce their asking price prior to the refinancing.

Though the Middle East has been also been affected by the financial crisis, Kuwait, Qatar, Abu Dhabi and Saudi Arabia do remain possible outlets for a sale.

Hicks had been hopeful that the consortium, headed by Kuwait’s Al-Kharafi family, might be the finance solution, but Abdulla Al-Sager, who is among the potential investors said yesterday that “things are going really badly because they are asking for too much”.

Al-Sager, who was joined by Rafed Al-Kharafi, nephew of the family patriarch, at Anfield, added: “I don’t think anything will happen unless we get a better price, but we are still talking.”

Prospective investors do not tend to speak so boldly, though Al-Sager may have been seeking to draw attention to an asking price which Dubai International Capital also considered too high before ending negotiations.

A realisation that Hicks did not appear likely to sell in the medium term was the main reason for Liverpool chief executive Rick Parry’s decision to take leave.


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