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Reds in £100m Kuwait quest
BANKERS representing Liverpool co-owner Tom Hicks have been trying to drum up interest in the Middle East in buying a 25 per cent stake in the club for £100 million.
Merrill Lynch have approached numerous figures in Kuwait and Saudi Arabia in recent weeks on behalf of Liverpool, who announced a record £80m shirt sponsorship deal with Standard Chartered on Monday. The Reds may be looking at releasing new shares. A similar scheme saw the share base enlarged in 1999 when Granada bought a 10 per cent stake for £22m. Such proceeds could help with funding for Liverpool’s much-delayed new stadium project in nearby Stanley Park.
The use of Merrill Lynch is an interesting development as they work for Hicks, while George Gillett is represented by Rothschild.