LIVERPOOL FC SOLD

Liverpool FC have confirmed they have accepted a takeover offer from American duo George Gillett Jnr and Tom Hicks.

The American pair flew into Liverpool on Tuesday to tie up the final details of the takeover deal.
The deal is reported to be worth £470m with the American duo splitting the cost between them paying about £175m for the shares in the club, £80m to cover the debt and a further £215m towards a new stadium.

Liverpool's board have now made an announcement to the Stock Exchange of the offer and they have recommended for the club's shareholders to accept the deal.

Total Share Capital: £174.1m

Clearing of debts: £44.8m

New Stadium Cost: £200m

Enterprise value: £218.9million

Louis' Comments..

Finally, after such a long wait, the deal is done. All of us are disappointed after the DIC deal was off, but fortunately, the disappointment didn't dragged for long.

2 American Bosses take over the club for now. Mr David Moores knew that he had no other choice but to step down. He's been a good chairman, a quiet and low-profile personality, but still, I believe he does alot of work behind the scenes, making sure that the club is doing well and I respect him for that.

We needed the money, that's for sure. For the stadium, for new players, for new youth players and many more. In order to compete with the rest, we have no other choice but to sell. Mr Moories is well aware of that, and I believe he did that all for the benefits of the club.

It's a good move, right time to have a change of management. However, I do believe that Rick Parry and Rafa Benitez should still be around. Traditions must be kept and not changed. The new bosses must know that the cores of the football club must be always there and it won't not be Liverpool if it's changed.

It's a new era. I'm excited to see the future of Liverpool FC. Under Rafa Benitez, I believe we'll get the 19th title and more real soon.

You'll Never Walk Alone..

Cheers.

DIC OUT OF LIVERPOOL DEAL

The Dubai International Capital investment group have pulled out of a proposed takeover of Liverpool.

The group, owned by the Dubai government, had been examining the club's books with a view to a £156million buy-out.

And their decision to withdraw follows the failure of the Liverpool board to accept the offer last night, following a rival bid by American billionaire George Gillett.

A statement read: "Dubai International Capital LLC today announces that it has decided to end negotiations with Liverpool FC & Athletic Grounds plc about a possible investment in the club.

"Having completed due diligence, DIC submitted a comprehensive offer to the Liverpool board.

"The offer had been accepted in principle by majority shareholder David Moores. It appears that the Liverpool board and the majority shareholder David Moores were unable to approve these terms in order to allow DIC to make a formal offer to all shareholders."

The news prolongs Liverpool's long search for the outside investment they believe they need to compete at the top end of the Premiership and in Europe.

DIC had been their most likely suitor and entered into discussions with the club late last year.

The deal would have valued the club at £450million but the Dubai group have decided to withdraw following the board's decision to allow more time to consider the Gillett bid.

Gillett, owner of the Montreal Canadiens ice hockey team, has proposed a deal which is thought to offer shareholders more for their holdings.

Sameer Al Ansari, executive chairman and chief executive officer of DIC, said: "We are very disappointed to be making this announcement. DIC are a serious investor with considerable resources at our disposal.

"At the same time, we are supporters of the game and of the club. Liverpool's investment requirements have been well publicised and, after a huge amount of work, we proposed a deal that would provide the club with the funds it needs, both on and off the pitch.

"We were also prepared to offer shareholders a significant premium on the market price of the shares. However, we will not overpay for assets."

cheers.