Kuwaiti Consortium’s move to buy Liverpool stalled
“A spokesman for the consortium said the £500m value put on the club by businessmen Tom Hicks and George Gillett was too high and that negotiations were “going really badly”.
Abdulla Al-Sager, one of the possible investors in the consortium headed by the Al-Kharafi family, said: “Things are going really badly, because they are asking for too much.
“I don’t think anything will happen unless we get a better price.”
The consortium is now likely to wait until July, when Hicks and Gillett will have to see if they can refinance Liverpool’s £300m debts.
If they cannot, then they may be forced to sell the club for a much lower price.
Liverpool have been in talks about a sale with another investment group in the Middle East and one in the US.
It is understood Hicks would like to find an investment partner to buy Gillett’s stake and allow him to remain in control.”
** spending a lot of cash on a football club in this crisis wasn’t a smart move.. premier league gonna sound like kas elkhaleej within the next few years… and they call it the best league