DIC and George Gillett at deadlock over Liverpool FC deal

Mar 6 2008 by David Bartlett, Liverpool Daily Post

THE ownership of Liverpool FC last night remained uncertain after talks between Dubai International Capital (DIC) and co-owner George Gillett reached a deadlock.

DIC had not managed to persuade Gillett to sell his 50% stake with a revised bid that would have given him a profit of at least £40m.

The Daily Post understands DIC and Gillett remain on “cordial” terms but talks have now stopped, although the bid remains on the table. The size of the profit Gillet is now being offered varies between £40m and £80m according to different sources.

Those close to DIC suggest the bid would allow Gillett to walk away from the club with an £80m profit, but sources in the Gillett camp argue it is nearer £40m.

“There is a desire on DIC’s part to conclude the deal or move on quick-ly. But there is no immediate pros-pect of a deal,” said a source.

It is understood Gillett is holding out for more money, but DIC have made it clear there is no more.

The latest offer Gillett is now contemplating marks a vast improvement on DIC’s original bid.

Tom Hicks, who owns the other 50% of the club, is still sticking to his guns that he wants to become a majority shareholder in the club.

Fans showed their opposition to US ownership of the club at last night’s game against West Ham.

Les Lawson, secretary of the official supporters association, said: “As far as Liverpool supporters are concerned, they want Hicks and Gillett out. They should do us all a favour and walk away.”

SPORT: PAGES 38-40

davidbartlett