NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Sports » Reliance denies bidding for Liverpool

Reliance denies bidding for Liverpool

February 09, 2010 11:19 IST

Indian industrialists Mukesh Ambani and Subroto Roy are reportedly in the race for a 51 per cent stake in Liverpool football club, bidding to pay off its 237 million pounds debt.

But, when contacted in Delhi, a Reliance spokesman denied the reports.

"We are not bidding for Liverpool," he said.

There was no immediate word on the issue though from the Sahara Group, owned by Roy.

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

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

Liverpool is presently owned by American duo George Gillett and Tom Hicks, who acquired the club in February 2007.

One of the most successful clubs in the history of English football, Liverpool emerged as a takeover target for Ambani, chairman of Reliance Industries and 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.

Reported disagreements between Gillett and Hicks, and the lack of the fans' support, have led to rumours that that international buyers such as the Dubai International Capital would bid for the club.

© Copyright 2013 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.