Reds warned on investment

08 October 2009 13:40
Potential Liverpool-investor Prince Faisal will have nothing to do with the club unless they can prove they are in a good financial position. The Saudi prince has reportedly been in contact with Liverpool co-owner George Gillett over a potential buy-out of his share, and he also has eyes on Tom Hicks' half of the club. However, Barry Didato, an aide of Faisal, has insisted that any potential investment could be determined by the club's bank balance, with Faisal unwilling to clear any debts. Didato said: "His Highness' shareholding could go from anything from nought to 100 per cent. "The debt has to be at a manageable level before Prince Faisal would invest and the current level is high. "He cannot be looked to as someone who is going to clean up the balance sheet - Gillett has to deal with this. "But he cannot be seen as a solution to the debt or problems in the existing relationship between the owners." Strained relationship American business partners Gillett and Hicks have seen their relationship tarnished since moving into English sport, with the club constantly being linked to new investors. The pair have disagreed as the club aim to finance a new stadium while also building a competitive team, but Didato revealed Faisal is reluctant to become a peacemaker. He added: "His Highness would not want to get involved (in the problems between the pair), he is not a marriage counsellor." Gillett and Hicks last week issued a joint statement, stressing that any talks to bring in new investment were "at an early stage." Gillett stated earlier this week that Liverpool are in an "extraordinarily good financial condition", better than Manchester United, Chelsea or Arsenal.

Source: SKY_Sports