With the American markets in shambles after Lehman Brothers Chapter 11 filing, AIG’s current credit issues and Merrill Lynch’s current sale to Bank of America, the world of American finance could not be in a worse situation than it is right now.
For Liverpool’s American ownership, this is probably the type of news that would cause them to add a bit of vodka to their coffee to get them through the day. After watching the markets crumble, Gillette and Hicks could be kicking themselves at the present moment for not buying into a potential takeover bid by DIC that would have surely seen them walk away with a hefty profit. As the money wanes, the ownership will be tightening their belts even more in an attempt to weather a storm that won’t be ending anytime soon.
Well after brushing off a bid by DIC earlier this year, Liverpool have now been hit by the news that the Arab cash wagon won’t be coming to Anfield.
If Liverpool and Newcastle were hoping for a rich Arab backer to whisk them away from their current troubles, they may have to wait for a while after the Middle East investment arm of the Dubai government, DIC, distanced themselves from a takeover of an English club.
“Following inaccurate speculation regarding DIC and Liverpool FC, DIC can confirm that it is not involved in any negotiations to buy [Liverpool] and can confirm that it is not planning a fresh bid for LFC or any other football club,” said DIC in a statement. “Nor is DIC or any other Dubai-based party aware of any consortium or vehicle involved in a bid.” (The Guardian)
While Sheikh Maktoum could still be in line to make his own personal offer before the end of the year. DIC look to finally be out of the picture.
What do Liverpool supporters think of the news? Can the club weather the financial storm with Hick and Gillette at the helm?