Liverpool takeover bid in doubt

The Liverpool football club emblem is pictured on a gate at the Anfield ground in Liverpool. Liverpool decided not to formally accept a bid from Dubai International Capital to buy the English Premiership club.

Liverpool decided not to formally accept a bid from Dubai International Capital to buy the English Premiership club.

The Anfield club's board of directors met at a London hotel before their 2-1 win at West Ham to discuss the offer from DIC and agreed they needed more time before making a decision on the takeover.

DIC, the investment arm of the Dubai government, were ready to purchase Liverpool for around 155 million pounds, deal with the club's 80 million pounds' debt and fund a new 60,000-seater stadium.

But Liverpool's move gives American tycoon George Gillett, owner of the Montreal Canadians ice hockey team, hope that his counter-offer will be accepted instead.

It had been thought Liverpool chairman David Moores was happy to accept DIC's bid but Gillett's improved offer that valued the chairman's shareholding at 88 million pounds may have persuaded him to change his mind.

DIC had completed due diligence and were set to make a formal bid for Moores' 51.6 percent majority shareholding.

A DIC source said: "We have worked very hard over a long period with Liverpool to come up with the best possible offer for shareholders and for the long term of the club.

"Our deal is not just about buying some shares, it is about financing the stadium, getting the stadium built and making money available for players.

"We hope to make our formal offer very soon, and think it is an offer for everyone, not least one the supporters will be happy with."

Liverpool are expected to decide which offer to accept by the end of the week.