Belfast Telegraph

Saturday 19 April 2014

Liverpool's Dubai takeover deal imminent almost complete

Liverpool chief executive Rick Parry has revealed the takeover of the club by investors from Dubai is almost complete and that a concrete announcement will be made "relatively soon".

Dubai International Capital, the investment arm of the Dubai government, tabled a reported €450 million sterling bid in December and are currently completing legal formalities and the process of due diligence.

Parry said, "A huge amount of work has been going on from both parts. I imagine we'll have something concrete to say relatively soon on that."

"They are finalising all the legal work. They have been examining the books

and satisfying themselves that everything is fine on that score."

Parry also confirmed the takeover would bring in the additional funds that manager Rafael Benitez wants to strengthen his squad for a tilt at the Barclays Premiership title.

But he insisted DIC are interested in building a platform for long-term success and not just bank-rolling a quick fix.

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