Gillett rubbishes takeover reports

Published Add your comment

Liverpool co-owner George Gillett has played down speculation that a buy-out of the Barclays Premier League club is imminent.

Widespread reports suggested Prince Faisal bin Fahd bin Abdullah al-Saud's F6 investment vehicle had been given the go-ahead to carry out exclusive due diligence with a view to buying into the club after he attended Liverpool's 6-1 win over Hull at Anfield on Saturday.

However, Gillett insisted the future ownership of the club was not on the agenda at the meeting while F6 director Barry Didato confirmed the due diligence process taking place relates to other commercial opportunities and "does not involve the possibility of an immediate investment in Liverpool", with any possible transaction being "several months away".

Gillett told "We had a marvellous meeting with them on Saturday and they were impressed with the club, but the academies in Saudi Arabia and North Africa and their possible involvement in NASCAR-type racing in the Middle East were the only items on the agenda.

"We have entered into a period of exclusive discussions regarding the possibility of introducing NASCAR-type racing to the Middle East, but the memorandum of understanding does not cover anything else."

Gillett and co-owner Tom Hicks confirmed on Tuesday that they had "retained Bank of America Merrill Lynch and Rothschild to evaluate the possibility of new investors injecting equity into Liverpool FC".

A joint statement added: "The process is at an early stage, there is no agreement with any party and reports to the contrary are wholly inaccurate."

Didato, F6's director of strategic investment, told that the agreement signed at the weekend focused on the creation of football academies in Saudi Arabia and North Africa as well as an opportunity in stock car racing, while the prospects of a possible investment in Liverpool lagged behind the first two projects as a "distant third".

Didato said: "As far as investment in Liverpool is concerned, that would be a long way off. A lot of people have jumped the gun and any possible investment would be several months away.

"The agreement signed (at the weekend) leaves the door open for it (possible future investment in Liverpool), but that was certainly not the focus of it."

Copyright (c) PA Sport 2009, All Rights Reserved.

Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE:

Premier League
Hull City

Article Comments

Report author of article

Please let us know if you believe this article is in violation of our editorial policy, please only report articles for one of the following reasons.

Report author


This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. and SportsNewMedia do not take any responsibility for the content of its contributors.

Want more content like this?

Like our GiveMeSport Facebook Page and you will get this directly to you.

Already Subscribed to Facebook, don't ask me again

Follow GiveMeSport on Twitter and you will get this directly to you.

Already Following, don't ask me again

Like our GiveMeSport Page and you will get this directly to you.

Already Subscribed to G+, don't ask me again