Liverpool's focus on Inter hit by sale veto

Last updated : 11 March 2008 By The Times

Rafael Benítez, the Liverpool manager, said that he and his players would think only about booking their place in the Champions League quarter-finals, with his team 2-0 up from the first leg. But the latest development in the takeover saga has shocked the club's hierarchy, with Hicks, the co-chairman, deciding to veto the decision by George Gillett Jr, his co-owner, to sell the vast majority of his 50 per cent stake in the club to DIC, the private-equity investment arm of the Dubai Government.

DIC remains hopeful of buying Gillett's share and ousting Hicks in the long term, but the tone of Hicks's statement suggested there would be no more amicable discussions after negotiations in Dubai broke down.

"I have decided to terminate any further discussions with DIC regarding their possible purchase of a minority stake in Kop Holdings and in turn the club," Hicks said. "DIC made it clear that if they invested in the club, they would want it 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 over the past year — it is clear that such a committee approach would not be in the best interests of Kop, the club or the club's loyal and passionate supporters. Accordingly, I have decided to exercise my right . . . to veto any sale of any portion of Kop and the club to DIC.

"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."

DIC has privately questioned the legitimacy of the Texan's power of veto, but sources close to Hicks said last night that "the veto is watertight. It was in the shareholder agreement and, as far as Tom is concerned, that is the end of the matter with DIC."

Benítez, whose employment prospects at Anfield remain unclear, said that the news would not distract his players from the task in hand against Inter, but his preparations have been disrupted by a disagreement with Xabi Alonso, the midfield player, who stayed in Merseyside yesterday to be with his girlfriend, Nagore, who is about to give birth to their first child.

Alonso had hoped to fly out this morning if the baby was born in time, but Benítez said no, putting further pressure on their working relationship, which has become strained over the past two months.