Source: Telegraph
Tom Hicks opens talks with Kuwait family over Liverpool sale
Hicks's camp are in tentative talks with representatives of the Al Kharafi family, whose head Nasser is the 48th richest man in the world with an £9 billion fortune.[LNB]Nasser Al Kharafi was linked with a move for Newcastle last year but the key player in the prospective purchase of Liverpool is understood to be his nephew, Rafed Al Kharafi. The family fortune is based on construction and a variety of holdings in the banking, fast-food and tourism sectors.[LNB]Liverpool's finance director, Phillip Nash, a close ally of Hicks, travelled to Kuwait this week seeking investment for the club's stalled new ground, but the ultimate goal is thought to be securing the sale of the club, which the Americans value at £600 million.[LNB]Hicks's discussions with the Al Kharafis, which are understood to have begun without the knowledge of co-owner George Gillett, mark the second time in a year that the Americans have sought to sell the club to the family.[LNB]Last spring Gillett opened talks with the family and at one stage a sale looked probable, but after extensive negotiations the deal broke down in July when the Kuwaitis walked away without explanation.[LNB]Hicks's decision to return to the family to try to execute a new deal is understood to have infuriated Gillett and will further deepen the distrust between the two.[LNB]Gillett has been under pressure to refinance a £40 million loan secured as a personal guarantee demanded by RBS as a condition of a £350 million refinancing deal the American's negotiated this time last year.[LNB]Nash's deployment to Kuwait also indicates the increasingly perilous position of chief executive Rick Parry, who appears to have been frozen out of the deal by Hick's altogether.[LNB]If Hicks cannot secure a full sale it has been suggested that he would settle for a majority stake that would leave him with a place on the board and power over the football side of the business.[LNB]That is likely to be deeply unpopular with supporters dismayed at the civil war within the club at a time when they should be focusing on winning their first league title in 19 years.[LNB]With the club split 50-50 between the two owners however, there can be no resolution to the ownership issue without the agreement of both.[LNB]According to well-placed sources there is a new willingness to sell on both sides however. With their £350 million loan due to be renegotiated in July, funding for the new ground uncertain and RBS unlikely to be able to offer favourable terms having been crippled by the financial crisis, there is an imperative to sell or secure fresh investment.[LNB][LNB]
