Source:Business World
Provided By: Gagan Preet Singh
Indian industrialists Mukesh Ambani and Subroto Roy are reportedly in the race for a 51 per cent stake in Liverpool football club bidding to pay off its 237 million pounds debt.
Liverpool is presently owned by American duo George Gillett and Tom Hicks, who acquired the club in February 2007.
One of the most successful clubs in the history of English football, Liverpool emerged as a takeover target for Ambani, chairman of Reliance Industries and the seventh- richest man in the world, as pressure mounted on Hicks and Gillett to cut a deal to sell the club, The Times reported today.
When contacted in Delhi, a Reliance spokesman denied the reports. "We are not bidding for Liverpool," he said.
There was no immediate word on the issue from the Sahara Group owned by Roy.
Both Ambani and Roy have reportedly each tendered similar bids to pay off Liverpool's 237 million pounds debt in return for a 51 per cent stake in the club.
Liverpool chief executive Christian Purslow also denied any knowledge of bids by Ambani and Roy, but The Times reported that approaches began as early as November and that some preliminary talks had taken place.
Reported disagreements between Gillett and Hicks, and the lack of the fans' support, have led to rumours that that international buyers such as the Dubai International Capital would bid for the club.
Each deal requires that the present owners make a commitment to take no dividends or expenses out of the club for three years to allow the club to resume a secure financial basis.
In April 2008, business magazine Forbes ranked Liverpool as the fourth most valuable football team in the world, after Manchester United, Real Madrid and Arsenal.
Liverpool boasts of having some of the leading footballers including Steven Gerrard, Fernando Torres, Dirk Kuyt and Yossi Benayoun.
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