Saudi Prince Linked To Liverpool Bid
A Saudi prince is believed to be negotiating with current US owners George Gillett and Tom Hicks to buy a controlling stake in Premier League club Liverpool in a deal reported to be worth as much as £350m.
Prince Faisal bin Fahd bin Abdullah, a businessman based in Al-Khobar in eastern Saudi Arabia, is currently in talks regarding a takeover bid according to Azhari Kowa, a spokesman for the prince’s Fama Group.
According to reports, the Prince is negotiating with the English club’s US owners for a 50% stake in turn helping pay-off a large section of the club’s £245m debt.
Liverpool’s American co-owners George Gillett and Tom Hicks have been reportedly seeking new investment after refinancing some of its debts with the Royal Bank of Scotland during the summer.
The duo bought Liverpool in a heavily leveraged deal in 2007 for an estimated £435m.
Kowa said Prince Faisal’s sports-oriented company F6 signed a memorandum of understanding with Gillett on setting up football academies in Saudi Arabia and North Africa, and explore ventures in auto racing and sports publishing in the Middle East.
