Reds won't be 'rich man's plaything'

Liverpool chief executive Rick Parry insists the club will not become a "rich man's plaything" if the prospective takeover by Dubai International Capital (DIC) goes through.

The firm, an investment company for Dubai's ruler Sheikh Mohammed, is still working through the club's accounts but is expected to make a formal offer for Liverpool worth around £450million.

The Sheikh is reckoned to be the fifth richest person in the world with a fortune that dwarfs even the wealth of Chelsea's billionaire owner Roman Abramovich, but Parry insists the takeover will not see Liverpool indulging in profligate spending.

He insists the takeover, which would include funding for a new stadium, can secure Liverpool's position among the elite for the next century.

Parry told the Liverpool FCmagazine published today: "We are focused on success but we want a club that will not be ludicrously profligate. It is not just about throwing money at a challenge, that is not a sound long-term strategy.

"It is definitely not about being a rich man's plaything. It is about taking Liverpool FC to the next level and securing the future of the club for the next hundred years."

Parry, who is expected to keep his position with DIC chief executive Sameer al-Ansari possibly becoming chairman, said the aim would be for Liverpool to use the investment to run the club as a successful company and take advantage of their international fanbase.

"At the same time it is choosing the right partner, it is paramount to ensure that such a partner understands the values and heritage of the club and respects them," said Parry.

"The most important aspect of our heritage is success and winning trophies. That is the thing that matters most to everyone who follows Liverpool and that will always remain the focus."

Parry insisted that suggestions the takeover was already "a done deal" were exaggerated, but admitted he was excited at the possibilities.

He added: "We always look forward with a focus on the challenges ahead, not least the new stadium and the need to get on with that rapidly.

"Detailed negotiations continue, and we are clearly very excited to have reached this stage because discussions have been going on for a long time."

Parry confirmed that should the takeover go through current chairman David Moores would be give some kind of boardroom role.

A DIC source said: "We are very much in agreement with Rick Parry's remarks. If we do a deal we would aim to have a long-term relationship with Liverpool. We will get the stadium built and help the club move on to the next level."