Reds owners cool sale talk

29 September 2009 06:13
Liverpool's co-owners George Gillett and Tom Hicks have denied that they are close to selling a stake in the club. Weekend reports claimed that a body involving Saudi prince Faisal bin Fahd bin Abdullah was in talks with Gillett over purchasing a 25 per cent share in the club. On Monday, Saudi sports investment company, F6, confirmed that they were involved in negotiations with Liverpool about investing in the club and it was revealed that Prince Faisal was considering buying a 50 per cent stake. However, a spokesperson for George Gillett and Tom Hicks told the Reds' official website: "The owners have jointly retained Bank of America Merrill Lynch and Rothschild to evaluate the possibility of new investors injecting equity into LFC. "However, the process is at an early stage, there is no agreement with any party and reports to the contrary are wholly inaccurate." Gillett and Hicks have been forced to abandon plans to start work a new stadium amid the economic downturn, while they have been forced to restructure a debt accrued when they bought the club two-and-a-half years ago.

Source: ESA