DIC rule out involvement in Liverpool bid

SOCCER NEWS:The Middle East investment arm of the Dubai government, DIC, have moved today to disassociate themselves from suggestions that they are still trying to buy Liverpool, or have moved on to Newcastle.

The move has come following claims that Newcastle owner Mike Ashley has tried to interest them in a bid to buy the club.

However, today's statement only serves to underline a situation that has existed for some time with regard to Liverpool.

DIC is now no longer being used as the financial vehicle to try to buy the club, and that the Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum is now handling the situation as a personal venture.

That has been the case since early summer when the sheikh took on the attempts to buy out Liverpool owners Tom Hicks and George Gillett.

Those negotiations have been carried out in the UK by a company, PCP, run by Amanda Staveley, who has been involved in negotiations for the successful purchase of Manchester City by an Abu Dhabi group. That deal is expected to be finally concluded this week.

It is still thought that Sheikh Maktoum would still like to buy Liverpool, but that negotiations have not progressed during the summer.

In that time Liverpool's owners have failed to raise the funds to build a new stadium, and have put back that venture for a year.

Their next problem will come at the end of the year when they have to re-finance their current loans at Liverpool.

It is believed that they have as yet had no indication that the Royal Bank of Scotland, with whom the bulk of their loan finance is involved, will grant a six-month extension.

At that point, Sheikh Maktoum may again become active in trying to buy the club.

But DIC is no longer being utilised in the negotiations. Their statement today said: "Following inaccurate speculation regarding DIC and Liverpool FC, DIC can confirm that it is not involved in any negotiations to buy LFC and can confirm that it is not planning a fresh bid for LFC or any other football club.

"Nor is DIC or any other Dubai-based party aware of any consortium or vehicle involved in a bid.

"DIC has not mandated PCP to act for DIC or to act for them in any matter whatsoever. DIC would like to wish LFC and it's fans a successful future."

PA