Liverpool co-owner George Gillett is ready to sell his 50% stake
in the Anfield club to Saudi investor Prince Faisal bin Fahd,
according to reports.
GettyImages
George Gillett and Prince Faisal at Anfield
• Saudis
confirm talks to buy Reds stake
Prince Faisal's investment firm, F6 Sports, signed an agreement
with Gillett last month, which the company claim gives them an
exclusive option to invest in the Premier League outfit. And
Liverpool's American co-owner will fly to Saudi Arabia next week to
finalise the sale of his half of the club.
The Daily Mirror report that Gillett is due to arrive
in the Middle East on Wednesday for a three-day stay, during which
he will sort out the details of the transaction, leaving F6 to deal
with his Anfield partner Tom Hicks if they want complete
control.
When contact was first made with Gillett in September Prince
Faisal told Saudi Arabian media that the takeover deal could "be
worth £200 million to £350 million" but F6 managing director Gassim
Hamidaddin added that those figures "were not 100 percent
accurate".
Regardless of the final amount, if the deal goes through it
would provide a huge cash boost for Liverpool. Lack of funds means
plans to build a new stadium in Stanley Park have been shelved and
manager Rafael Benitez has reportedly fallen out with the board
over his transfer budget on more than one occasion.