Source: SKY_Sports
Gillett rejects takeover talk
Liverpool co-owner George Gillett has played down rumours that a buy-out of the club is in the offing.
Widespread reports have suggested Prince Faisal bin Fahd bin Abdullah al-Saud's F6 investment company was planning to make a major investment in the club and possibly gain Gillett's 50 per cent stakeholding.
However, Gillett, who invited Prince Faisal bin Fahd bin Abdullah to last weekend's game with Hull, insists the meeting was regards establishing football academies in Saudi Arabia and NASCAR in the Middle East, and not any investment in Liverpool.
Gillett and co-owner Tom Hicks confirmed in a statement on Tuesday that they want to attract outside investment for the club and Gillett was happy with his talks with the F6 group.
"We had a marvellous meeting with them on Saturday and they were impressed with the club, but the academies in Saudi Arabia and North Africa and their possible involvement in NASCAR-type racing in the Middle East were the only items on the agenda," Gillett told thesportbriefing.com.
"We have entered into a period of exclusive discussions regarding the possibility of introducing NASCAR-type racing to the Middle East, but the memorandum of understanding does not cover anything else."
F6 director Barry Didato confirmed they are exploring commercial opportunities with Liverpool, but that their discussions "does not involve the possibility of an immediate investment in Liverpool", with any possible transaction being "several months away".
"As far as investment in Liverpool is concerned, that would be a long way off. A lot of people have jumped the gun and any possible investment would be several months away," said Didato.
"The agreement signed (at the weekend) leaves the door open for it (possible future investment in Liverpool), but that was certainly not the focus of it."
Didato added that no talks have been staged between F6 and Hicks, who, like Gillett, owns 50 per cent of Liverpool.
"George has a partner there and has his own issues to work through," Didato added. "Mr Hicks will also have his own issues and we are not sure what he wants to do.
"Another issue is the club's debt (of around £245million). Prince Faisal will not put forward investment capital to just clean up a balance sheet. He would only want to use money to take the club forward. It would be long-term money."
Didato said that Prince Faisal would have an open mind regarding the ultimate stake he could hold in the club.
"His Highness is open to anything and is open to being a minority shareholder, but he has tremendous favourability towards the brand and institution of Liverpool," noted Didato.
"His Highness would need to be invited by George and it would have to be at the right time for George. There would need to be a shared vision between all of the parties."
