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Reports: DIC buys 49% stake in Liverpool

Published by fiz on March 8, 2008

It is reported that DIC has already secured a a deal with Liverpool two owners which would see them owning 49% stake in Liverpool. That’s just a percent shot of total control over the club.

“All parties have now reached agreement, Tom Hicks knows that in the long run we will be 100 per cent owners of the club but we are prepared to play a waiting game,” Amanda Staveley, DIC’s chief negotiator, said. “We will be able to pay the price for the financing of the club and construction of a new stadium.”

It is believed that George Gillett made a £40m profit on his investment plus add-ons. Technically, under the terms of pre-emption rights agreement signed by Hicks and Gillett when they bought Liverpool, Hicks has three months from now to buy out Gillett. But it is understood that DIC may seek to buy out Hicks from those rights and enable an immediate deal. There seems to be a good prospect that Hicks will agree. “There is a good understanding between all parties,” Staveley said.

The deal, as outlined by DIC, seems to offer Hicks what he wants – overall control of the club – though DIC’s aim on Tuesday seemed to be that Hicks might settle for DIC owning 50 per cent and management control of the club. DIC was at pains to point out that the deal was reached in principle and subject to legal scrutiny.

However, there are sources close to Hicks which insisted that the deal has yet to be confirmed.

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