Thursday, 15 October 2009

Gillett's 50% sale in the final stages says Saudi Prince

Saudi Prince Faisal bin Fahd bin Abdullah believes talks over his F6 company buying a major stake in Liverpool are nearing a conclusion.

Liverpool co-owner George Gillett arrived in Riyadh on Tuesday night to continue talks with the prince. The Americans visit is mainly concerned with setting up LFC branded academies in the Middle East and north Africa, however it also believed he will also continue discussions over the sale of part, or all of Gillett's 50 per cent holding in the club.

"Our negotiations to buy shares in Liverpool are ongoing, meetings are taking place and we might be in the final stages in the coming days," said the prince on Wednesday, reports Sky Sports.

The prince has openly admitted that investment in the Reds is firmly in his agenda, but has expressed concern over the clubs debt.

Reds co-owner Tom Hicks appears to have paved the way for Gillett to sell up. The Mirror interviewed 'a source' close to Texan, who confirmed:

“Tom would be open to considering a partnership with someone willing to buy George Gillett’s shares."

“It is still the case that the sale of any shares in Liverpool FC requires the other partner’s consent."added the source.

It is also thought that if Gillett sells, Hicks must be given the right to buy two per cent of his partner's shares, making him the major share holder of the club.

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