Angry Sheikh Pulls Out If Liverpool Bid - 31/01/2007

Liverpool's plans for the funding of a new stadium are in turmoil after an angry Sheikh Mohammed pulled Dubai International Capital out of their takeover bid for the club. It is believed that the Sheikh was upset with the club's courting of American tycoon George Gillett. The Liverpool board failure to accept DIC's offer so that they would have more time to consider a second offer from Gillett is said to have made Sheikh Mohammed a very angry man. The Montreal Canadians owner has emphasised that whereas DIC saw the club as a business enterprise he runs a successful sports franchise and knows how to run sports operations. DIC claimed that their offer had been accepted in principle by majority shareholder David Moores but they were unable to make a formal offer to shareholders. DIC chief executive Sameer Al Ansari said the group was disappointed but added, 'We won't overpay for assets.' Their offer would have valued the club at £450m.