Liverpool could be resold: report

Updated: 25 February 2007 10:38 IST

The Dubai-based consortium trying to buy English football club Liverpool could sell for a large profit in seven years time.

Liverpool could be resold: report

London:

The Dubai-based consortium trying to buy English Premier League club Liverpool doesn't plan to be the sole owner and could sell for a large profit in seven years time, according to a newspaper report. Earlier this month, Liverpool said it was in "exclusive negotiations" with Dubai International Capital (DIC), a consortium led by Sheik Mohammed bin Rashid al-Maktoum, for a possible takeover of the storied soccer club. DIC considers its purchase of Liverpool solely as a business deal, and plans to borrow up to 300 million pounds to finance its 450-million-pound purchase of the club, Britain's Daily Telegraph reported on Wednesday. The newspaper cited investment documents shown to potential investors. By selling in seven years, DIC would provide a return of around 25 percent on its original investment for every year of ownership, the paper said. It did not elaborate. DIC would not be the sole owner of Liverpool, unlike Malcolm Glazer at Manchester United and Randy Lerner at Aston Villa _ who are both Americans who also own NFL clubs - and Russian billionaire Roman Abramovich at Chelsea. The Daily Telegraph said 30 percent of the 90 percent stake DIC is bidding for will be offered to outside investors. It said three banks - Bank of Ireland, RBS and Bank of America - had been approached for financing. A new stadium, estimated at 240 million pounds, to replace Anfield is key to the deal, the paper said. In September, Liverpool received the go-ahead to build a 60,000-capacity new stadium, clearing the way for the Reds to leave the 45,000-seat Anfield after 114 years and move to a part of nearby Stanley Park, depending on financing. Six Premier League clubs are under foreign ownership, with Man U, Chelsea and Aston Villa joined by Portsmouth, Fulham and West Ham.

Topics : Football Liverpool
Related Articles
I-League: Chennai City FC, Minerva Punjab FC Get AIFF Nod
I-League: Chennai City FC, Minerva Punjab FC Get AIFF Nod
Cristiano Ronaldo Awaits Fourth Ballon d'Or Coronation
Cristiano Ronaldo Awaits Fourth Ballon d'Or Coronation
Sergio Ramos to Rescue as Real Madrid Set 35-Game Unbeaten Record
Sergio Ramos to Rescue as Real Madrid Set 35-Game Unbeaten Record
Show Comments
Advertisement