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Page last updated at 14:33 GMT, Monday, 15 September 2008 15:33 UK

Dubai group denies new Reds bid

Liverpool and Newcastle
Liverpool are thought to be chasing new investment like Newcastle

Dubai International Capital (DIC), the investment arm of the Dubai government, has ruled out a fresh bid for Liverpool or any other Premier League club.

Reports hinted DIC may attempt a second bid for Liverpool, while Newcastle owner Mike Ashley is seeking a buyer.

But a DIC statement read: "DIC is not involved in any negotiations to buy Liverpool and is not planning a fresh bid for LFC or any other club."

Dubai ruler Sheikh Mohammed could yet fund a takeover of the Reds, however.

The BBC understands Sheikh Mohammed is still keen on a takeover of the Merseyside club, although he would not utilise DIC in any negotiations.

DIC failed with a bid to acquire 49% of Liverpool in March when the Anfield outfit's co-owner Tom Hicks ended lengthy negotiations with the company.

But Sheikh Mohammed was linked with an attempt to buy out Hicks and his co-owner George Gillett earlier this summer.

Those negotiations were carried out in the UK by a company, PCP, run by Amanda Staveley, which has also involved in negotiations for the successful purchase of Manchester City by an Abu Dhabi group.

DIC's statement added: "Neither DIC nor any other Dubai-based party is aware of any consortium or vehicle involved in a bid. DIC has not mandated PCP to act for DIC in any matter whatsoever.

"DIC would like to wish LFC and its fans a successful future."

BBC 5 Live's Brian Alexander said the fact that DIC has publicly pulled out of their attempts to buy Liverpool "is a bit of a red herring".

"DIC are just one of Sheikh Mohammed's Dubai-based investment companies and I am told that Sheikh Mohammed will personally fund the takeover of the club at the right price.

"The deal on the table is a package of about 500m. That is 150m to the current American owners Tom Hicks and George Gillett, and the balance is the debt of 350m that the Sheikh would underwrite.

"The American owners are finding it almost impossible to raise further funds. But I am told that 75m each is not enough so at present there is no deal."

Newcastle owner Mike Ashley revealed on Sunday that he would sell the club if the right offer came in after a series of protests from angry fans.

There were claims that Ashley tried to interest DIC in bidding for Newcastle but the Magpies owner will have to look elsewhere for a buyer.

see also
Marseille v Liverpool
15 Sep 08 |  Europe
Who would buy Newcastle United?
15 Sep 08 |  Business
Lehman Bros files for bankruptcy
15 Sep 08 |  Business
Liverpool 2-1 Man Utd
13 Sep 08 |  Premier League
Liverpool supporters hold protest
13 Sep 08 |  Liverpool
Ashley puts Newcastle up for sale
14 Sep 08 |  Newcastle
Mike Ashley statement
14 Sep 08 |  Newcastle
Ownership rules concern FA chief
12 Sep 08 |  Football
Owner Hicks braves Anfield crowd
22 Apr 08 |  Liverpool
Hicks ends talks with Dubai group
10 Mar 08 |  Liverpool
Hicks holds talks over Liverpool
27 Feb 08 |  Liverpool
Liverpool braced for takeover bid
20 Jan 08 |  Liverpool
Consortium pulls out of Reds bid
31 Jan 07 |  Liverpool

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