LIVERPOOL // A Saudi Arabian billionaire has said he is in talks to buy a 50 per cent share of Liverpool Football Club, the five-time European Cup winners, for a fee that could be as high as £350 million (Dh2.1bn).
Prince Faisal bin Fahd bin Abdullah Al Saud was a guest of co-owner George Gillett for Saturday's 6-1 win over Hull City.
Negotiations between the pair concerned the setting up of several Liverpool academies in the Middle East as well as the ownership of the club.
"We are looking at the present time to acquire a 50 per cent stake in the club, which is currently suffering from debts of up to £245m," Prince Faisal told the Saudi newspaper Al Riyadh. "The value of the deal, which will be finalised soon, is around £200m to £350m."
And yesterday an official statement from his office was released by Azhari Kowa, a spokesman for the prince.
"He is in London now discussing the purchase," the statement from Kowa said.
Prince Faisal is chairman and CEO of F6, a Saudi-based investment and marketing company. He spent around six hours at Anfield, along with a retinue of bodyguards, and is reported to have been taken into the dressing room by Gillett before leaving around 90 minutes after the end of the game.
Gillett, 70, and fellow American Tom Hicks bought Liverpool in February 2007 for £220m after the Dubai International Capital (DIC) group withdrew their bid.
However, their regime has been controversial. Work is yet to begin on the new Anfield, a condition of former owner David Moores' sale to Hicks and Gillett, while coach Rafa Benitez's net transfer spend in the summer was a mere £2m.
Both owners have been affected by the international recession although Gillett, who sold NHL ice hockey club Montreal Canadiens for £360m this summer, is now thought to be the wealthier.
Nevertheless, the club's financial position has appeared precarious. Liverpool had to renegotiate a £350m loan with the Royal Bank of Scotland in the summer, refinancing the borrowings the two Americans took out to buy the 18-time English champions.
Gillett, a businessman from Wisconsin, and Texan Hicks have fallen out since their purchase of Liverpool, though neither has been able to buy the other out.
Hicks had embarked upon a separate quest for investment. It is thought he, valuing the club at around £500m, had been willing to offer buyers 25 per cent of the club for around £100m.
Supporters at Anfield have long campaigned for the pair to sell the club, rather than find alternative backers. Gillett was the subject of demonstrations from fans before Saturday's game.
Of the two co-owners, Hicks has been the stronger supporter of Benitez, while Gillett allied himself with former chief executive Rick Parry, who left the club in the summer. It is thought Gillett was willing to sell his stake to DIC in the past, but Hicks vetoed it.
In a separate development, it has been reported that Moores, Liverpool's chairman for 16 years, has decided to stop attending matches at Anfield because of his dissatisfaction with Hicks and Gillett.
rjolly@thenational.ae
Your Guide to the Home
- Level 1 has a valet service if you choose not to park in the basement level. This level houses all the kitchenware, including covetable brand French Bull, along with a wide array of outdoor furnishings, lamps and lighting solutions, textiles like curtains, towels, cushions and bedding, and plenty of other home accessories.
- Level 2 features curated inspiration zones and solutions for bedrooms, living rooms and dining spaces. This is also where you’d go to customise your sofas and beds, and pick and choose from more than a dozen mattress options.
- Level 3 features The Home’s “man cave” set-up and a display of industrial and rustic furnishings. This level also has a mother’s room, a play area for children with staff to watch over the kids, furniture for nurseries and children’s rooms, and the store’s design studio.
The specS: 2018 Toyota Camry
Price: base / as tested: Dh91,000 / Dh114,000
Engine: 3.5-litre V6
Gearbox: Eight-speed automatic
Power: 298hp @ 6,600rpm
Torque: 356Nm @ 4,700rpm
Fuel economy, combined: 7.0L / 100km
Plan to boost public schools
A major shake-up of government-run schools was rolled out across the country in 2017. Known as the Emirati School Model, it placed more emphasis on maths and science while also adding practical skills to the curriculum.
It was accompanied by the promise of a Dh5 billion investment, over six years, to pay for state-of-the-art infrastructure improvements.
Aspects of the school model will be extended to international private schools, the education minister has previously suggested.
Recent developments have also included the introduction of moral education - which public and private schools both must teach - along with reform of the exams system and tougher teacher licensing requirements.
TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
Rating: 2.5/5
Recipe
Garlicky shrimp in olive oil
Gambas Al Ajillo
Preparation time: 5 to 10 minutes
Cooking time: 5 minutes
Serves 4
Ingredients
180ml extra virgin olive oil; 4 to 5 large cloves of garlic, minced or pureed (or 3 to 4 garlic scapes, roughly chopped); 1 or 2 small hot red chillies, dried (or ¼ teaspoon dried red chilli flakes); 400g raw prawns, deveined, heads removed and tails left intact; a generous splash of sweet chilli vinegar; sea salt flakes for seasoning; a small handful of fresh flat-leaf parsley, roughly chopped
Method
▶ Heat the oil in a terracotta dish or frying pan. Once the oil is sizzling hot, add the garlic and chilli, stirring continuously for about 10 seconds until golden and aromatic.
▶ Add a splash of sweet chilli vinegar and as it vigorously simmers, releasing perfumed aromas, add the prawns and cook, stirring a few times.
▶ Once the prawns turn pink, after 1 or 2 minutes of cooking, remove from the heat and season with sea salt flakes.
▶ Once the prawns are cool enough to eat, scatter with parsley and serve with small forks or toothpicks as the perfect sharing starter. Finish off with crusty bread to soak up all that flavour-infused olive oil.
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
At Eternity’s Gate
Director: Julian Schnabel
Starring: Willem Dafoe, Oscar Isaacs, Mads Mikkelsen
Three stars
Film: Raid
Dir: Rajkumar Gupta
Starring: Ajay Devgn, Ileana D'cruz and Saurabh Shukla
Verdict: Three stars
