Liverpool Up For Sale: The Details

Liverpool FC has sought the help of investment bank Merrill Lynch to find a buyer for the club, according to a report in The Times newspaper.

Out of the 20 clubs in the Premier League, Liverpool has been one of the hardest hit in the credit crunch due to the £350 million that American owners George Gillett and Tom Hicks borrowed that has to be refinanced this January or next July at a time when their bank, the Royal Bank of Scotland, may be unwilling to restructure the loan. The Royal Bank of Scotland was bailed out by the British government just last week.

The Times newspaper reported that auditors looked at Liverpool’s books last week as part of the beginning process of finding a buyer, but no buyer has been found thus far.

Sheikh Mohammed bin Rashid Al Maktoum, prime minister of the United Arab Emirates, was interested in buying Liverpool FC in the past but it’s believed that the American owners are now asking too much money for the club, reportedly up to £550 million.

The best thing for Liverpool, its players and fans would be for Dubai International Capital (DIC) or a similar business group to purchase the Merseyside club, ridding the club of the very unpopular American owners Hicks and Gillett, and moving on a course to build a new stadium in Stanley Park.

What do you think? Will DIC and the American owners be able to compromise and work out a deal? Or will the future of the club drag out until a new owner can be found?