Reds confirm takeover talks

Last updated : 05 December 2006 By Al Campbell
No deal has yet been confirmed but officials of the club have admitted they have given permission for DIC to conduct due dilligence on an exclusive basis. This means the company, owned by multi-billionare Sheikh Mohammed bin Rashid al-Maktoum, will conduct an examination of the club's accounts.

A bid for the club is expected before the end of the month, possibly even before Christmas.

"This is the latest step on the road of finding the long-term investment that the Club needs. DIC is a potential investor with the resources and philosophy that we believe could make them an ideal partner. Already they have demonstrated a full understanding of, and respect for, the club's heritage and values. We also believe they share our passion for success. In particular, DIC believes in investing in the businesses it acquires. This is very important in terms of the proposed new stadium, which is key to plans for the regeneration of the local community. On the pitch, Liverpool remains focused on winning and, here again, this is all about doing a deal that gives us the long-term resources to do that," said Liverpool's Chief Executive Rick Parry.