INVESTMENT: Dubai withdraw Liverpool bid as Moores prefers Gillett

David MooresLiverpool’s proposed takeover by Dubai Investment Capital has collapsed after a board meeting at Liverpool failed to ratify the groups offer.

After weeks of seemingly missing out on buying Liverpool, the American investor George Gillett came back to Liverpool last week with an improved valuation for the shareholders, and crucially, he has had a change of heart on the stadium. It is believed his bid was initially rejected because he was in favour of a ground share between Liverpool and Everton. His new proposals are based around a new stadium to be solely used by Liverpool FC.

The Dubai Consortium were understandably angry that the Liverpool board last night failed to ratify their bid, and withdrew their offer for the club today. It is believed that George Gillett’s group has also nearly completed the process of due diligence and another board meeting will be convened in the next seven days.

Dubai Investment withdraws bid

The company said in a statement that it had “decided to end negotiations with Liverpool… about a possible investment in the club.”

It said a “comprehensive offer” had been accepted in principle by majority shareholder David Moores after the company, the investment arm of the Dubai government, had completed due diligence.

However it added that “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.”

DIC executive chairman and chief executive Sameer Al Ansari said the company, who have been holding talks with Liverpool since early December, was disappointed to be making the announcement.

“We are very disappointed to be making this announcement. DIC is 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.

“Liverpool is the most successful football club in English football history. It exists to win things for its supporters. It deserves to be in the hands of people who support it, who understand its history and legend and who share the enthusiasm and passion of its fans. As businessmen, we move on.

As fans, we hope that the new owners would share the same vision as we had for LFC and, of course, in realising the new stadium that is so badly needed to ensure the club can continue to compete at the highest level in the Premiership and Europe.”

It appears that David Moores valued the entire shareholding (of which he owns 51.5%) at £170 million, whereas DIC were to offer £156 million for this aspect of the club.

Has David Moores put his interest before that of the club?

Has the Gillett offer always been the more attractive, and now he has dropped his proposals for a ground share, it is now the preferred option?

Update @ 7pm: LFC have made the following official statement in response.

Liverpool Football Club has noted today’s announcement by Dubai International Capital.

The process of seeking new owners for the club is still underway and a decision on the future will be taken in the next few days.

Discuss this item in our LFC Investment topic in the forum, or post a response below…

21 comments on
INVESTMENT: Dubai withdraw Liverpool bid as Moores prefers Gillett

  1. It’s about time moores stood aside he said 16 years ago, when we won r last league title, that he wouldve make liverpool biggest club in england and wat did he do he employed that balloon souness….so hopefully with the money rafa will b given he gets his 1st choice players that hes always wanted.YNWA

  2. we’ve all seen the negative effects takeover talks have had on other clubs e.g West Ham…….. This is the type of deal that should have been sorted as quickly and as quietly as possible, that way the club can get on with the real job in hand. getting the club back to the top of domestic and european football.

    YNWA

  3. Emmmm…… it seems to be the end. Its getting bored and confuse about the club status. Just 1 question “Why americans and not arabians” What do i hope is Mr. Stevie G MBE and Mr. Rafa and all the players will remain unchanged because they will never walk alone.

  4. moores and parry you are like the chuckle brothers how many offers have you turned down in the last 2 seasons? when are you going to accept an offer and let someone pump serious money into our club so we can challange the rent boys and the mancs and aim to win the premiership

  5. I think the club should come forward as soon as possible to alay fears as this was a done deal bar the shouting only a week ago according to Mr Parry so he should keep the fans up to speed as the silence is being filled with lots of ridiculous speculation…Mr Moores has been totally dedicated to the cause and is a gentleman and i believe he will do what is right for the club…lets have faith and if it takes time to get the right deal lets wait but To suggest that Mr Moores has sold out is a disgrace and certainly not supported by true fans!

  6. Well done Moores you have managed to pxxs off the 5th richest man in the world whose offer you were more than happy to agree in principle only a few days ago-Look what Dubai have done for racing-look atthe wealth in Dubai,Look at the fact the Dubai deal was being driven by a genuine red I can hear the laughter from Manc Scum already we end up with a second rate American assett stripper.THANKS

  7. when you are dealing with someone who is the 5th richest man and you haggle about additional 15 million quid after 2 years of negotiation and after making statements and statements about them being the best for the club because they understand the culture and stuff what do you expect DIC to do?

    If DIC ever decide to go for another EPL club and exert their vast resources like they did in the racing industries be assure Moore$ name be forever etched as the man who fooked liverpool fc future

  8. There is nothing like calm, considered, informed comment. And most of these posts are nothing like calm, considerd, informed comment. STOP PANICKING you horrible toe-rags. Parry and Moores know more about the club and whats best for the future than you knee-jerking muppets could ever comprehend. Perhaps they were using the DIC bid to extract improved guarantees from the Yanks – eg dropping the ground-share idea. Perhaps they know that the US bid would be better in the long term. I dont know. And more importantly, NEITHER DO YOU. Some of you people would have sold out to that vermin Steve Morgan years ago. Forget Istanbul if that had happened. Keep your idiotic mouths shut, and stop rocking the boat.

  9. Has David Moores put his interest before that of the club?The guy wants his money.He cannot be too passionate about the club.I think its gonna happen the same as to man u. with another american invesrtor.They buy the clubs and then they dont want to invest any more money on decent players.They just expect club to produce brilliant players only at the end of the day to flog them like Ajax has done for years.God bless LIVERPOOL FC!!!!

  10. I always felt slightly nervous about the DIC deal. It seems a little strange just to pull out like this when the board simply extend the period by a few days. Overall I hope Gillett now comes through – he has experience with other sporting assets and the only way to make money at the price he will be paying is to build LFC back to the height of its’ glory days. I have decided to be positive lets all hope it works out.

  11. Try to make the DIC come back to the table.

    Sell LFC to them. That would be the best thing to do.

    HB – LFC supporter from Denmark

  12. my brother and niece live in dubai, he was saying to me today that it’s good news to him that DIC have pulled, knowing what he knows he felt in the long term DIC WAS NOT RIGHT FOR LFC he went on to say they are very nice people when things are going well but very unpredictable when things are not, in other words it’s a culture difference, were as george gillett has given written promises of his ambition to build the ground and fund the buying of new players. also never to get involved with ground sharing,he IS also willing to do more for the club than DIC were george gillett is a very successful man I’m confident he’ll do well for us, look at the glaziers, are not they doing a good job after all bad press they got.also I hope DIC, LFC, fans continue to attend home games

  13. Hmmmmmm… Im very disappointed with the situation as only a couple of weeks ago, moores and parry were telling fans that this was the best deal for liverpool football club… Now it seems that they have had a last minute change of heart… I only hope that they know something we obviously dont and have made the right decision in accepting gillete jnr….

    I guess only time will tell….

  14. I’m not going to pass too much judgement until I’ve heard both sides but I do believe the leaked DIC ‘7 Year Plan’ document from a few weeks back has changed the mindset of the LFC board, Mr. Parry has alot to answer for considering how much he was bigging up the DIC offer.

  15. So money talks afterall…mr. Moores!
    It´s getting more and more confusing. That was not the plan, was it?
    No official statement…nothing!
    Now rival fans will be taunting us with “USA” chants etc. and how should I react? I do not know?!? …crap!

    With confusing regards
    Siggi

  16. Why am i feeling so low about DIC pulling out!

    have we LFC lost out! i really hope not and only time will tell…….But at the end of the day Liverpool fc YNWA!!!!!!!!!!!!

  17. I’m very angry. I love Liverpool so much.

    I can’t believe Moores has sold out for pure greed. We can say Goodbye to Gerrard. This American will not be good for us.

    Yours, Upset Reds Fan

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