Thursday, November 02, 2006

Gillett wants £500M Liverpool

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George Gillett Jnr is a serious player in the bid to control Liverpool.

The Daily Telegraph says Gillett Jnr and Dubai Holdings are the two groups considered the most serious by the Liverpool board.
Gillett is the American owner of the Montreal Canadiens National Hockey League team and a former owner of the Harlem Globetrotters, the famous basketball team. Dubai have returned to the fray having walked off after an initial interest two years ago.
Gillett wants to buy the whole club, lock, stock and barrel.
It's reported the sticking point for Gillett and Dubai Holdings is Liverpool's asking price, believed to be £210 million.
But in addition to this, Liverpool have debts of around £80 million. Add to this the money necessary for investment in the team, as well as the £200 million the club need for their new stadium, and it can be expected that any one taking them over would be looking to fund around £500 million.