Premiership giants Liverpool are moving closer to a takeover which could propel them back in among English football's financial heavyweights.
The English club have given permission to the Dubai International Capital (DIC) group, the investment arm of Dubai's government, to carry out a complete study of their books with a view to possibly launching a £450m sterling deal.
DIC confirmed yesterday that they are ready to begin an examination of details of the club's financial affairs. A statement from DIC said: 'Dubai International Capital will be commencing due diligence in the coming days. We are supporters of the game and of the club'.
Five-times European champions Liverpool last won the Champions League in 2005, but the 18-times English champions have been left trailing in the success and money stakes by Chelsea, Manchester United and Arsenal. However a takeover would drastically change that landscape for the Anfield Road club.
Liverpool CEO Rick Parry said: 'This is the latest step on the road of finding the long-term investment that the club needs. DIC is a potential investor with the resources and philosophy that we believe could make them an ideal partner.'
If successful, the takeover would trigger the funding of a new 60,000 seater stadium for the club and hand the club a substantial transfer kitty with which to strengthen the squad.
The Liverpool Echo newspaper claimed the deal could be completed by the New Year and may involve Sheikh Mohammed bin Rashid al-Maktoum, the Prime Minister and Vice President of the United Arab Emirates, as well as the Ruler of Dubai. Al-Maktoum is the fifth richest man in the world with an estimated personal wealth of $10 billion dollars.
Liverpool have been searching for overseas investment for several years without success and have been snubbed by several potential investors including Robert Kraft, who owns the NFL team New England Patriots, as well as a former Prime Minister of Thailand.
Recent suitors have included George Gillet, the owener of the Montreal Canadians ice hockey team who met with Moores and Liverpool chief executive Rick Parry in the United States last month. It was believed though that Gillett's desire to employ his own people behind the scenes did not go down well with life-long Liverpool fan Moores who favoured the more hands-off approach of the Dubai consortium.
If the deal goes through Liverpool will join the growing list of top English clubs such as Manchester United, Chelsea and Aston Villa passing into foreign ownership.
