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.

Could Gillett be on the verge of selling 50% stake in LFC?

A key aide to Faisal bin Fahd bin Abdullah al-Saud, has again indicated that the Saudi Arabian prince could bid for a major stake in Liverpool, but has concerns about the club's debt and relationship between the owners.

Recent rumours have suggested that co-owner George Gillett is on the verge of selling his stake in the club after the prince's investment company 'F6' struck a deal to establish a number of LFC football academies in Saudi Arabia.

Gillett will travel to Saudi Arabia on Tuesday to hold further talks with the Saudi Royal reports BBC Sport. Barry Didato, head of strategic investments for 'F6' said:

"His Highness's shareholding could go from anything from nought to 100%."

"But he cannot be seen as a solution to the debt or problems in the existing relationship between the owners."

The relationship between Gillett and his co-owner Tom Hicks has not been harmonious. Each has a 50% stake in the club, yet neither can sell shares without the other's approval.

"His Highness would not want to get involved in (the problems between the pair), he is not a marriage counsellor," Didato said.

"The debt has to be at a manageable level before Prince Faisal would invest and the current level is high," he said.

"He cannot be looked to as someone who is going to clean up the balance sheet - Gillett has to deal with this."

"His Highness does not need to be a majority shareholder and a takeover has not been his focus," he said.

"His Highness is an extraordinary man who is passionate about football," he said. "He has a tremendous respect for Liverpool and their fan base.

"He only wants what is best for them and is one of those rare breeds of investor who is in it for the long haul."

The prince, who attended Liverpool's demolition of Hull City recently claimed that he was close to purchasing a 50 per cent stake in the club. Speaking to Middle Eastern newspaper 'Al Riyadh', he said: "The deal will be concluded soon and its value will be between £200m and £350m."

However LFC were quick to deny any deal was in place stating: "there is no agreement with any party and reports to the contrary are wholly inaccurate."

Didato has expressed similar words recently about Prince Faisal's interest in the Reds and clearly the Saudi Arabian is eager to invest in the club partially or as a whole. Reported on this site last week, the head of strategic investments stated: "His Highness is open to anything and is open to being a minority shareholder, but he has tremendous favourability towards the brand and institution of Liverpool."

Today's Mirror appears convinced Gillett is on the verge of a sale, stating the co-owner: "is due to arrive in the Middle East on Wednesday and is scheduled for a three-day stay to sort out the deal with the Prince's advisers and his financial company F6 Sports." The story also says:

"a sale is top of the agenda to be done rather than just an investment," and adds, sources in the Middle East are: "convinced that this will happen."

The departure of Gillett would certainly be welcomed by Reds fans who have consistently protested against the co-owners following a series of promises that have never been kept. Gillett recently made a series of outlandish claims during the impromptu interview with a Reds fan whilst giving a tour of the Liverpool training Academy to Prince Faisal. The American claimed Arsenal and Man Utd could not outspend LFC and also denied he'd ever proclaimed 'shovels would be in the ground within 60 days', when speaking about the new stadium on Stanley Park. Luckily his statement was filmed by the countries media.

Possibly the prince's interest for the club could offer an escape route for Gillett and the clubs long suffering fans.

Gillett rejects takeover rumours

Liverpool co-owner George Gillett has again denied rumors that Saudi prince Faisal bin Fahd bin Abdullah al-Saud's 'F6' investment company was planning to make a major investment in the club. Gillett's comments follow an official statement from both owners claiming "there is no agreement with any party and reports to the contrary are wholly inaccurate." Speaking to 'thesportbriefing.com', Gillett said:

"We had a marvellous meeting with them on Saturday and they were impressed with the club, but the academies in Saudi Arabia and North Africa and their possible involvement in NASCAR-type racing in the Middle East were the only items on the agenda," said Gillett on Sky Sports.

He added: "We have entered into a period of exclusive discussions regarding the possibility of introducing NASCAR-type racing to the Middle East, but the memorandum of understanding does not cover anything else."

F6 director Barry Didato confirmed they are exploring commercial opportunities with Liverpool, however their discussions "does not involve the possibility of an immediate investment in Liverpool", and any possible transaction would be "several months away".

"As far as investment in Liverpool is concerned, that would be a long way off. A lot of people have jumped the gun and any possible investment would be several months away," said Didato on Sky Sports.

"The agreement signed (at the weekend) leaves the door open for it (possible future investment in Liverpool), but that was certainly not the focus of it."

Didato added that no talks have been staged between F6 and other Liverpool co-owner Tom Hicks.

"George has a partner there and has his own issues to work through," Didato added. "Mr Hicks will also have his own issues and we are not sure what he wants to do.

"Another issue is the club's debt (of around £245million). Prince Faisal will not put forward investment capital to just clean up a balance sheet. He would only want to use money to take the club forward. It would be long-term money."

"His Highness is open to anything and is open to being a minority shareholder, but he has tremendous favourability towards the brand and institution of Liverpool," noted Didato.

"His Highness would need to be invited by George and it would have to be at the right time for George. There would need to be a shared vision between all of the parties."

Hicks & Gillett deny sale of club is imminent

Liverpool Football Clubs joint owners George Gillett and Tom Hicks have responded to recent reports about the Club's ownership. Press speculation over the weekend reported Saudi prince, Faisal bin Fahad bin Abdullah al-Saud was on the verge of buying into the Anfield club after his Saudi Arabian sports investment company: 'F6', confirmed it had reached an agreement with Liverpool to establish a number of football academies in the region.

The prince, who attended Liverpool's demolition of Hull City at the weekend reiterated yesterday that he was close to purchasing a 50 per cent stake in the club. Speaking to Middle Eastern newspaper 'Al Riyadh', he said:

"The deal will be concluded soon and its value will be between £200m and £350m," said the prince.

He added: "If we finalise the deal, it will be something marvellous because Liverpool is one of the best and most famous clubs in England and the whole world," reports Sky News.

The Telegraph reports the prince and Gillett will hold further talks when the American visits the Middle East in October.

However a spokesperson for George Gillett and Tom Hicks, via the clubs official site, said:

"The owners have jointly retained Bank of America Merrill Lynch and Rothschild to evaluate the possibility of new investors injecting equity into LFC.

"However, the process is at an early stage, there is no agreement with any party and reports to the contrary are wholly inaccurate."