Reliance denies Mukesh Ambani bidding for Liverpool

Both Mukesh Ambani and Subroto Roy are reportedly (separately) bidding for a 51% stake in Liverpool, one of the most successful clubs in the history of English football. 

Mukesh Ambani, chairman of Reliance Industries Ltd and Subroto Roy, chairman of Sahara Group are reportedly bidding for a 51% stake in Liverpool—one of the most successful clubs in the history of English football, reports PTI.

Liverpool is presently owned by American duo George Gillett and Tom Hicks, who acquired the club in February 2007. However, reported disagreements between Gillett and Hicks, and the lack of fans' support, have led to rumours that that international buyers such as Dubai International Capital would bid for the club.

The Liverpool club emerged as a takeover target for Mr Ambani, the seventh-richest man in the world, as pressure mounted on Hicks and Gillett to cut a deal to sell the club, The Times reported on Tuesday.

When contacted in New Delhi, a Reliance spokesperson denied the reports. "We are not bidding for Liverpool," he said. There was no immediate word on the issue from the Sahara Group owned by Mr Roy.

Both Mr Ambani and Mr Roy have reportedly each tendered similar bids to pay off Liverpool's £237 million debt in return for a 51% stake in the club.

However, Liverpool chief executive Christian Purslow denied any knowledge of bids by Mr Ambani and Mr Roy, but The Times reported that approaches began as early as November and that some preliminary talks had taken place.

Each deal requires that the present owners make a commitment to take no dividends or expenses out of the club for three years, to allow the entity to secure its financials.

The Americans were reportedly unpopular with the club's supporters and the hostility had increased as it had become clear that there was no money available to strengthen the team.

In April 2008, business magazine Forbes ranked Liverpool as the fourth-most valuable football team in the world, after Manchester United, Real Madrid and Arsenal.
 

  • Like this story? Get our top stories by email.

    User 

    We are listening!

    Solve the equation and enter in the Captcha field.
      Loading...
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email

    BUY NOW

    online financial advisory
    Pathbreakers
    Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
    online financia advisory
    The Scam
    28 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
    Moneylife Online Magazine
    Fiercely independent and pro-consumer information on personal finance
    financial magazines online
    Stockletters in 4 Flavours
    Outstanding research that beats mutual funds year after year
    financial magazines in india
    MAS: Complete Online Financial Advisory
    (Includes Moneylife Online Magazine)