DIC wanted fan on board

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After a day of talks in Dubai on Monday, representatives of Liverpool co-owner Tom Hicks and Dubai International Capital reached deadlock, with the Texan finally breaking off negotiations.

The move came as a shock to DIC but, although they have avoided making any further public statements, it is believed they still want to buy into the club.

Hicks has also vetoed any move by his co-owner George Gillett to sell a 49% stake in the club to DIC, who plan to investigate the legality of that move and still want to buy Gillett's stake.

It has emerged that one of the conditions of DIC's bid was that a fan with full voting rights would be installed on the board.

This follows meetings with fans' groups on Saturday when a DIC representative watched the 3-0 win over Newcastle from the Kop.

But Hicks did not want such a move and insisted on Monday night the club would "not be run by committee".

The American is believed to have also wanted DIC to be a virtual sleeping partner while contributing cash to build the stadium and future transfers. It was these two sticking points which caused the collapse of talks with Hicks pulling the plug on the deal.

Hicks is now believed to be looking for other buyers for Gillett's shares, while DIC remain confident there will be more talks soon.

But they are not putting a timescale on that and aim to see how the current situation - and Hicks' attempts to raise £300million for the new stadium - pans out.