Sunday, September 27, 2009

Saudi prince Faisal bin Fahd bin Abdullah al-Saud eyes 50% stake in Liverpool FC

A Saudi prince wants to buy half of Liverpool in a deal worth up to £350million, according to reports on Sunday.

Prince Faisal bin Fahd bin Abdullah al-Saud - who chairs Saudi holding company Fama Group and the F6 sports investment firm - was quoted by the Saudi Al-Riyadh newspaper as saying that "we are seeking, at present, to own a 50% stake in the club.

"The value of the transaction, which is nearing resolution, will be between £200million and £350million."

The comments come on the heels of an F6 statement released on Saturday that said Prince Faisal had signed a memorandum of understanding with one of Liverpool's American co-owners, George Gillett Jr, as well as Richard Petty Motorsports.

Liverpool, which is owned by Mr Gillett and Tom Hicks, is about £245million in debt.

The American co-owners have been working to bring down Liverpool's debt, and the club's managing director said earlier this month that the US duo had paid £60million of the debt burden when the loan used to buy the club in 2007 expired in July.

Calls for comment from Fama Group were referred to F6, which sent a general statement about the investment deal with Mr Gillett.



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