It's looking good, the telegraph are reporting a very similar story with a bit more detail.
Originally posted by The Telegraph
Americans on verge of selling Liverpool
By David Bond
Liverpool's American owners, Tom Hicks and George Gillett Jr, are understood to be just weeks from agreeing a deal with Dubai International Capital which could see the club change hands for the second time in just over a year.
After months of fraught talks, DIC are increasingly confident that they will not only reach an agreement soon with the Americans but also with the two banks, Royal Bank of Scotland and Wachovia, who have just completed a £350 million refinancing of the club.
DIC's advisers have set themselves a deadline of the middle of next month to conclude the first part of a two-stage takeover process which, when complete, will be worth between £400m and £450m and includes provision for the club's increased debts.
In the next few days bankers working for DIC, the investment arm of the Maktoum royal family, are expected to be granted permission to start examining Liverpool's books with a view to tabling a formal offer.
Gillett, whose relationship with Hicks has broken down, will be first to sell out and is understood to have already agreed in principle to offload his 50 per cent stake.
But Hicks is refusing to sell out in one go. In the short term, at least, he is expected to remain on the board.
DIC plan to dilute his holding, initially by injecting further funds into the club to not only cover the new 18-month bank loan but also to help pay for the proposed new stadium and buy players. DIC want to secure a deal where Hicks sells out completely later on.
Having spent the first part of last week in Dubai, where he was seeking new backers for his US investment company, Hicks Holdings, he then flew to London on Thursday for two days of talks with DIC's advisers.
One potential stumbling block is the exact nature of the initial shareholder agreement between DIC and Hicks. It is understood his demands to retain control of the club following Gillett's exit have been rebuffed.
Under the terms of the £220m takeover deal concluded by Hicks and Gillett last February, no partner can sell out without first offering his 50 per cent stake to the other. Hicks has tried to raise the money to seize complete control but with the credit crunch hitting his businesses, he has failed.
If DIC succeed, they will aim to restore stability to a club after a period of unprecedented turbulence.
By David Bond
Liverpool's American owners, Tom Hicks and George Gillett Jr, are understood to be just weeks from agreeing a deal with Dubai International Capital which could see the club change hands for the second time in just over a year.
After months of fraught talks, DIC are increasingly confident that they will not only reach an agreement soon with the Americans but also with the two banks, Royal Bank of Scotland and Wachovia, who have just completed a £350 million refinancing of the club.
DIC's advisers have set themselves a deadline of the middle of next month to conclude the first part of a two-stage takeover process which, when complete, will be worth between £400m and £450m and includes provision for the club's increased debts.
In the next few days bankers working for DIC, the investment arm of the Maktoum royal family, are expected to be granted permission to start examining Liverpool's books with a view to tabling a formal offer.
Gillett, whose relationship with Hicks has broken down, will be first to sell out and is understood to have already agreed in principle to offload his 50 per cent stake.
But Hicks is refusing to sell out in one go. In the short term, at least, he is expected to remain on the board.
DIC plan to dilute his holding, initially by injecting further funds into the club to not only cover the new 18-month bank loan but also to help pay for the proposed new stadium and buy players. DIC want to secure a deal where Hicks sells out completely later on.
Having spent the first part of last week in Dubai, where he was seeking new backers for his US investment company, Hicks Holdings, he then flew to London on Thursday for two days of talks with DIC's advisers.
One potential stumbling block is the exact nature of the initial shareholder agreement between DIC and Hicks. It is understood his demands to retain control of the club following Gillett's exit have been rebuffed.
Under the terms of the £220m takeover deal concluded by Hicks and Gillett last February, no partner can sell out without first offering his 50 per cent stake to the other. Hicks has tried to raise the money to seize complete control but with the credit crunch hitting his businesses, he has failed.
If DIC succeed, they will aim to restore stability to a club after a period of unprecedented turbulence.
So we`re back to 100% takeover from DIC?
It's on.
what I do know is that he knows Ansari and Hicks personally and has interviewed them recently. He is a financial reporter not a football one.
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