Liverpool co-owner Tom Hicks has ended talks with Dubai International Capital (DIC), after failing to agree on a management strategy for the club.
The talks were thought to be at an advanced stage when Hicks statement appeared on the Liverpool FC website. Hicks saying simply that he has ended talks with DIC, although he and his colleagues will continue to explore other options.
It is understood that Hicks partner George Gillett had agreed to sell 49% of his stake to DIC and the other1% to Hicks, to allow the Texan to keep a controlling share. But any investment from DIC would have seen the club managed by a committee, while Hicks would like to remain in control.
Despite falling out with Hicks, it seems that Gillett is stuck with his share of the club unless another deal can be struck. The Americans included an agreement when they took over the club that one could not sell their share without the agreement of the other.
The saga continues.
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