Hicks Ends Talks With DIC Over Liverpool Stake

Liverpool co-owner Tom Hicks has “decided to terminate” discussions with Dubai International Capital to buy a minority stake in Liverpool.

 

Talks between the two were revealed last week, however since then relations have soured, with Hicks complaining of a lack of professionalism from the investment arm of the Dubai government.Hicks released a statement on Monday which read: “Based on a meeting held earlier today in Dubai between my representatives and officials of Dubai International Capital LLC, as well as other recent contacts between us and them, I have decided to terminate any further discussions with DIC regarding their possible purchase of a minority stake in Kop and, in turn, in the club.”

The statement continued: “DIC made it clear that if they invested in the club, they would want it to be managed by committee.

“Based on my 13 years of successful experience as an owner of professional sports teams, and based in particular on the situation at Liverpool Football Club over the past year, it is clear to me that such a committee approach would not be in the best interest of Kop, of the club or of the club’s loyal and passionate supporters.

“Accordingly, I have decided to exercise my right under the Kop Football (Holdings) Limited partnership agreement to veto any sale of any portion of Kop and the Club to DIC.

“I and my colleagues and representatives will continue to explore a number of other options with regard to the ownership of Kop and the club aimed at achieving an appropriate ownership, financial and organisational structure for Kop and the club over the long term.”

Fellow American co-owner George Gillett is understood to have agreed in principle to sell 49 per cent of his 50 per cent stake to DIC, and the other 1 per cent to Hicks to give the Texan a controlling interest, however it is not known how his stake will now be handled.

How the Liverpool fans will respond to the news will be interesting, as they have consistently voiced their hatred of Hicks since the Republican clashed with manager Rafael Benitez earlier in the season before airing the clubs dirty laundry in public.  

Since the high-profile split between owner and manager, large demonstrations have been oragnised on the Kop that have clearly demanded Hicks’ shares be bought by DIC, but it now seems the masses of Kopites will not be getting their wish.

Reuben Nagra, Goal.com

 

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