Hicks statement: DIC talks have ended.

A statement has been made by Tom Hicks, co-owner of Kop Football (Holdings) Limited, the company which is the owner of Liverpool FC. The talks with Dubai International Capital are off, Hicks feeling he can’t work under the terms they would impose:

“Based on a meeting held earlier today in Dubai between my representatives and officials of Dubai International Capital LLC, as well as other recent contacts between us and them, I have decided to terminate any further discussions with DIC regarding their possible purchase of a minority stake in Kop and, in turn, in the Club.

“DIC made it clear that if they invested in the Club, they would want it to be managed by committee. Based on my thirteen years of successful experience as an owner of professional sports teams, and based in particular on the situation at Liverpool Football Club over the past year, it is clear to me that such a committee approach would not be in the best interest of Kop, of the Club or of the Club’s loyal and passionate supporters.

“Accordingly, I have decided to exercise my right under the Kop Football (Holdings) Limited partnership agreement to veto any sale of any portion of Kop and the Club to DIC.

“I and my colleagues and representatives will continue to explore a number of other options with regard to the ownership of Kop and the Club aimed at achieving an appropriate ownership, financial and organizational structure for Kop and the Club over the long term.”

Expect more on this of course, but the deal is off.

53 thoughts on “Hicks statement: DIC talks have ended.”

  1. Dear All,
    For the last 24 hours I hve been editing Hicks’ entry on Wikpedia but it has been continually been deleted presumably by his PR organisation. I have now been bocked from further editing by Wik for "vandalism" again presumably as a result of complaints by Hicks.
    I enclose the text of my addition to his entry. Please will somebody else have a go at inserting this into his profile, after all its pretty mild !
    The fans of the club have reacted strongly to his joint ownership and have made their feelings felt in the media and by demonstrations at home matches. Liverpool FC is renowned for its discreet management style and the supporters are particularly incensed at his frequent off-the-cuff remarks and statements to the media which they feel has brought the club into disrepute. They also question his financing of the club which was purchased with borrowed money and been loaded with debt in the last year without work commencing on the new stadium. A recent poll of readers of Liverpool’s Daily Post resulted in 97% wanting him to sell the club to DIC who they feel has both the expertise and finances to take the club forward whilst maintaining its traditions.

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