A DRAMATIC and potentially far-reaching day in the long history of Liverpool Football Club ended yesterday with an American sports tycoon poised to take over the club.
For weeks, LFC fans have expected Dubai International Capital, owned by state ruler Sheikh Mohammed, to buy the club in a £450m deal which would finally allow the long-awaited new stadium plans to get under way.
But last night the negotiations were abruptly abandoned after the club appeared to have had its head turned by American George Gillett, owner of the Montreal Canadiens ice hockey team.
DIC called a halt to its involve-ment after Gillett upped his original offer to Liverpool chairman David Moores. That led to the Liverpool board declining to formally accept the Dubai offer at a meeting before Tuesday night’s game with West Ham.
It is believed that LFC, keen to secure the right deal for the future of the club, may have attempted to use the improved bid as a bargaining tool with DIC to lever an increased deal from them.
But the extra £8m they are said to have been asked for is thought to have angered Dubai’s ruling Maktoum family and last night they walked away – just one week before Moores was due to announce to shareholders that he was recommending them.
Gillett’s original offer was rejected before Christmas, but last week he submitted a new offer by letter to Moores which in effect gave the chairman £88m for his 51% holding, as well as covering Liverpool’s debt of around £80m and committing finance for the new stadium.
DIC had previously submitted a comprehensive offer valuing the club shares at £4,500 each, compared to the American’s rumoured £5,000 a share.
David Moores had been preparing to give DIC a formal response yesterday afternoon, but the Dubai group did not wait to hear it before pulling out.
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