Dubai International Capital not buying Liverpool FC
British football giants Liverpool are reportedly considering a bid by American sports tycoon George Gillett for the club after the Dubai International Capital group pulled out on Wednesday, a source close to the club told Reuters.
A Liverpool club statement on Wednesday said: "Liverpool Football Club has noted today's announcement by Dubai International Capital. "The process of seeking new owners for the club is still underway and a decision on the future will be taken in the next few days."
DIC said earlier in the day a "comprehensive offer" had been accepted in principle by majority shareholder and chairman David Moores after the company had completed due diligence.
However it added that "it appears that the Liverpool Board and the majority shareholder David Moores were unable to approve these terms in order to allow DIC to make a formal offer to all shareholders."
The Times reported last month that the proposed DIC deal was worth close to $880 million.
Established in 2004, Dubai International Capital is a Dubai based international investment company that primarily focuses on private equity. It is a wholly owned subsidiary of Dubai Holding, a large and diversified group that operates in the fields of healthcare, technology, finance, real estate, research, education, tourism, energy and communications.