DOUBT was cast last night on the latest reports linking Liverpool FC with two Indian tycoons.

It was revealed yesterday that two businessmen from the sub-continent, Mukesh Ambani and Subrata Roy, were competing for bids to buy a significant stake in the club.

But representatives of Mr Ambani, head of Reliance Industries and the wealthiest man in India and seventh-richest in the world, denied claims he was interested in doing business with Liverpool’s co-owners Tom Hicks and George Gillett.

And it is understood there has been no bid submitted from Subrata Roy, chairman of the Sahara Group in India, although his spokesman would neither confirm nor deny a report that suggested Roy’s interest was “serious.”

The club has refused to comment on the latest potential buy-out, but Reds boss Rafael Benitez said he would welcome any new investors.

Leading analysts yesterday cast doubt on whether Liverpool FC was an attractive investment opportunity, given its present financial circumstances and its £237m debt.

James Dow, a specialist accountant with Daresbury-based firm, Dow Schofield Watts, said LFC did not have much merit as “a genuine investment opportunity.”