Saudi prince to buy the Reds?
Published: 28 September, 2009, 18:52
TAGS: Sport, Football, Premier League
A Saudi prince plans to buy half of the debt-troubled FC Liverpool, in a deal estimated at up to $560 million.
Prince Faisal bin Fahd bin Abdullah al-Saud, head of Saudi holding FAMA Group and the F6 sports investment firm, was quoted by the Saudi Al-Riyadh newspaper on Sunday as saying that he is seeking a 50 per cent stake in the club.
Al-Saud expects the value of the transaction will be between 200 million pounds ($320 million) and 350 million pounds ($560 million).
However, AP reports quoting an executive familiar with the situation that Liverpool co-owner Tom Hicks is only prepared to sell a 25 percent stake in the club, and that he is not aware of the prince's claims.
If the deal is completed, it will mark the latest buy-in by Gulf investors of an English Premier League team, with the biggest purchase dating back to 2008, when the Abu Dhabi United Group gained control of Manchester City, which is now believed to be the wealthiest football club in the world.
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