Hicks and DIC hit deadlock over their possible working relationship on the first day of negotiations between lawyers representing the Liverpool co-chairman and company officials in Dubai. The investment arm of the Dubai government had indicated a willingness to back down on intentions to acquire complete control by purchasing 49% of the club from Gillett and would, providing the American agreed to sell his remaining 1% to his co-owner, let Hicks become majority owner.
However, the Texan, angered by weekend reports saying DIC would accept 49% as a means to an eventual takeover, has blocked that avenue. It is believed Hicks sees no way back for DIC but, despite making no comment last night, it has not given up hope of striking a deal with Gillett. Its lawyers are investigating the legality of Hicks' veto on any sale to a third party.
In a statement, Hicks said: "Based on a meeting held earlier today in Dubai between my representatives and officials of Dubai International Capital, as well as other recent contacts between us and them, I have decided to terminate any further discussions with DIC regarding their possible purchase of a minority stake in Kop [Holdings] and, in turn, in the club.
"DIC made it clear that if they invested in the club, they would want it to be managed by committee. Based on my 13 years of successful experience as an owner of professional sports teams, and based in particular on the situation at Liverpool Football Club over the past year, it is clear such a committee approach would not be in the best interest of Kop, of the club or of the club's loyal supporters. Accordingly, I have decided to exercise my right under the Kop Football (Holdings) Limited partnership agreement to veto any sale of any portion of Kop and the club to DIC."
The statement continued: "I and my colleagues and representatives will continue to explore a number of other options with regard to the ownership of Kop and the club aimed at achieving an appropriate ownership, financial and organisational structure over the long term."
The fresh uncertainty is an unwanted distraction for Rafael Benítez before tonight's Champions League second leg against Internazionale at San Siro. Liverpool hold a 2-0 lead as they try to reach the quarter-finals and the manager's preparations have been complicated by Xabi Alonso's absence. He stayed on Merseyside yesterday for the birth of his first child and had hoped to travel once the baby arrived. But it had not come by the time of his press conference at San Siro, and Benítez said there was no place for him in the team. "I cannot wait, wait, wait," he said.
