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Hicks attacks 'planted reports' claiming Liverpool will be sold to Dubai group
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26 February 2008
The reports claimed that the owners are preparing to give the Dubai consortium permission to examine the club's accounts with a view to making an official takeover bid next month.
They come only a day after Tom Hicks Jr's ringing declaration that his family will not be driven out of the club after he was spat at and had lager thrown over him by irate fans in the Sandon pub outside Anfield following Liverpool's 2-1 win over Middlesbrough on Saturday.
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Good intentions: Gillett (left) and Hicks when they first arrived as co-owners of Liverpool
Hicks Sr has always consistently claimed that he has no intention of selling his 50 per cent stake in Liverpool. In a statement today he said: "Reports that I am about to sell my stake in the Liverpool Football Club, or to invite DIC to examine the club's books in preparation for such a sale - like other such reports planted in the UK press in recent weeks by parties with their own self-interested agenda - are absolutely and categorically false.
"The reality is that I am personally, professionally and financially committed to the club and its supporters and that I will continue to honour that commitment to the best of my ability now and in the future."
Relations between the Americans and manager Rafa Benitez have improved in recent weeks after they hit rock bottom when it was revealed that Hicks had sounded out former Germany coach Jurgen Klinsmann about taking over at Anfield.
However, Gillett is viewed as much less committed to the club than his partner, and he could well be the first to agree to sell his 50 per cent stake.
Today's reports claim that the Americans, whose initial takeover just over 12 months ago was valued at £218.9 million, now value the club at more than £400m, but £350 million of that figure would be swallowed up by the debts incurred as a result of their recent refinancing deal.
DIC might be reluctant to meet that valuation if fifth-placed Liverpool miss out on qualification for next season's Champions League and its attendant income.
If DIC were to take over, it would be greeted enthusiastically by many supporters. The Americans have attracted further hostility by taking the club into debt — something that they pledged they would not do — and by the downsizing of their original designs for a new stadium. These were unveiled amid fanfare last July only to be dropped owing to spiralling costs less than five months later.
After he was forced to cut short his stormy visit to the Sandon pub on Saturday, Hicks Jr said: "I respect that some patrons have major disagreement with us, but that comes with the territory. I did have several constructive conversations in my short visit and look forward to following up with them next time I am in Liverpool."
By contrast, Gillett's son, Foster, who was initially sent to Merseyside to liaise between Benítez and the owners, has spent the past month in Montreal, apparently with no plans to return.
The takeover talk is being driven by the fact that the £350m refinancing deal only lasts for 18 months and so Hicks and Gillett are soon going to have to start renegotiating the debts.
Furthermore, they are shortly going to have to go back to the banks to ask for a further £300m in loans to finance the rest of the new stadium to be built at Stanley Park.
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