THE Kuwaiti family currently in the running to buy into Liverpool FC has already done due diligence on the club’s finances, sources have revealed.

The Al-Kharafi family, whose £8bn fortune is based on construction and a number of holdings in the banking, fast food and tourism sectors, pulled out of a previous deal just before it was due to be signed in November, the Daily Post understands.

That means much of the background work has already been done, which could help speed up any sale.

Conflicting accounts emerged yesterday over whether a full sale of the club at a figure around £500m, or just a partial sale, was being discussed, while a rival European suitor is also understood to be in the mix.

Last night, the Spirit Of Shankly, the Liverpool FC supporters union, said any sale of the club should only be to “fit and proper owners, true custodians who would look after the values and traditions of our club, and treat it with the respect it deserves”.

LFC’s American co-owners Tom Hicks and George Gillett have appointed rival banks to try to find potential buyers – Merrill Lynch are working for Hicks, while Gillett has appointed Rothschilds.

The Daily Post understands that, although Hicks and Gillett have separate advisors, the pair are working “hand in hand”.