The Times December 21, 2006
Takeover delay hampers Liverpool's spending plans
Oliver Kay
Rafael Benítez, the Liverpool manager, may have to content himself with only the acquisition of Lucas Neill, the Blackburn Rovers defender, during next month’s transfer window after learning that the club’s £450 million takeover by Dubai International Capital (DIC) may not be finalised until March.
Benítez has talked of a possible windfall before the January sales, but it seems unlikely that DIC, the private-equity investment arm of the state of Dubai, will complete its takeover in time to affect Liverpool’s transfer strategy before the summer.
It was hoped that DIC would complete the due diligence process in time to make David Moores, the Liverpool chairman, an offer for his 51.6 per cent shareholding this week, but the Christmas holiday means that is unlikely to happen before early January. If successful, DIC may extend its offer to the other shareholders for 60 days, with a view to securing a 90 per cent stake and taking the club into private ownership.
It means that the new era at Liverpool will not start in earnest until the summer — with Moores and Rick Parry, the chief executive, expected to retain senior positions in any case — and, while Parry has emphasised that there will be “no blank chequebook” for the manager, Benítez can expect his spending power to increase in time for next season.
Liverpool are close to securing the services of Neill. The Australian has only six months left on his contract at Ewood Park and, having informed the club of his desire to move to Merseyside, he is likely to be sold for about £1 million.
Takeover delay hampers Liverpool's spending plans
Oliver Kay
Rafael Benítez, the Liverpool manager, may have to content himself with only the acquisition of Lucas Neill, the Blackburn Rovers defender, during next month’s transfer window after learning that the club’s £450 million takeover by Dubai International Capital (DIC) may not be finalised until March.
Benítez has talked of a possible windfall before the January sales, but it seems unlikely that DIC, the private-equity investment arm of the state of Dubai, will complete its takeover in time to affect Liverpool’s transfer strategy before the summer.
It was hoped that DIC would complete the due diligence process in time to make David Moores, the Liverpool chairman, an offer for his 51.6 per cent shareholding this week, but the Christmas holiday means that is unlikely to happen before early January. If successful, DIC may extend its offer to the other shareholders for 60 days, with a view to securing a 90 per cent stake and taking the club into private ownership.
It means that the new era at Liverpool will not start in earnest until the summer — with Moores and Rick Parry, the chief executive, expected to retain senior positions in any case — and, while Parry has emphasised that there will be “no blank chequebook” for the manager, Benítez can expect his spending power to increase in time for next season.
Liverpool are close to securing the services of Neill. The Australian has only six months left on his contract at Ewood Park and, having informed the club of his desire to move to Merseyside, he is likely to be sold for about £1 million.
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