Reports suggest talks with Al-Kharafi initially took place as part of attempts to finance Liverpool's proposed new stadium in Stanley Park, but turned to a buy-out.
Hicks authorised Ian Ayre and Phillip Nash, the club's commercial director and finance director, to travel to the Middle East to continue discussions.
One of LFC Online's forum regulars has already mentioned seeing Hicks in Abu Dhabi as recently as two weeks ago, which now seems to be linked to this latest rumour.