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The seemingly endless saga of Liverpool's takeover looks like it is coming to an end with the club becoming the first Premiership club to be owned by the investment vehicle of a Gulf state. Dubai International Capital (DIC), the state investment agency headed by an ardent fan, has been granted exclusive negotiating rights with the Merseyside club and will be commencing due diligence in the next few days. DIC Chief Executive Sameer al-Ansari said, 'Liverpool's investment requirement (has) been well publicised and we hope we can agree a deal that will provide the club with the funds it needs both on and off the pitch. Ansari, an Arab of Palestinian origin, who was educated in England said, 'I've been a fan of Liverpool ever since I was a kid.' Under the deal DIC will take on £80m in Liverpool debt and provide the club with up to £200m for a new 60,000 capacity stadium in Stanley Park. It is thought that the total deal, including buying out shareholders, is likely to amount to £450m.
The Gulf state of Dubai has become a favourite destination for relaxing footballers with its golf courses and even a ski slope. I have only been there to change planes at its superb international airport, but the Emirate is generally regarded as very well run, seeking to replace what will eventually be dwindling oil wealth with other sources of income. DIC owns the waxwork museum Tussauds Group and has a $1 billion stake in Daimler Chrysler. It also controls the highly successful Emirates airline which gained the naming rights to Arsenal's new stadium and sponsors referees. Liverpool will be pleased that they did not accept the takeover offer from former Thai prime minister Thaksin Shinawatra who has since been ousted in a military coup amid allegations of corrupt behaviour by his family.
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