Wednesday, August 4, 2010

Yahya Kirdi in 'advanced negotiations' over Liverpool takeover

Rhone Group believed to be in the running as well...


Anfield - Liverpool FC

Kenny Huang has a rival in the race to become the new owner at Anfield, as it is thought that Yahya Kirdi - who represents Middle East & Canadian investors - is close to buying Liverpool.

It has been reported in the past that Kirdi knows co-owner George Gillett and his son Foster, and is also believed to have been present in January to watch the Reds play Stoke City in what was an underwhelming campaign for the club last season.

The Canada-based businessman released a statement through his public relations company recently, claiming that he is in "advanced negotiations" with the current owners concerning a complete buyout.

"Yahya Kirdi, who represents a select group of investors from the Middle East and Canada, confirmed today that his group is in advanced negotiations with Thomas Hicks and George Gillett, co-owners of Liverpool Football Club, to purchase 100 per cent of the club," the statement read.

"Agreement has been reached on all major terms including the purchase price, repayment of the existing bank debt from RBS and Wells Fargo and financing of a new stadium in Liverpool’s Stanley Park. A formal purchase agreement between the parties is in the final stage of negotiation.

"Mr. Kirdi is a resident of Canada and a former Syrian national football team player who oversees investments in Europe and North America on behalf of his investor group."

In anticipation of a potentially imminent takeover, Kirdi maintained that there would be additional funding to develop the squad, and also promised to have the money in place to begin work on Stanley Park - a new stadium that the current owners failed to deliver.

"Liverpool is a massive football club with passionate and proud fans in Merseyside and in every part of the world," he noted.

"With additional money to improve the squad and financing in place to build the new stadium, Liverpool will be on a solid foundation to compete in the Premiership and in Europe for years to come."

A recent name to be linked with a takeover of the debt ridden Merseyside club was Chinese businessman Huang, who has been reported to be harbouring a serious interest in leading a Chinese purchase of the Reds. His emergence only seemed to bring other prospective buyers out of the woodwork, however, as the club soon claimed 'five or six' initial bids had been received.

In the meantime, speculation was rife that the Royal Bank of Scotland could have been involved in the talks as the current owners, Tom Hicks and George Gillett, owe a significant sum of money to the bank.

However, club chairman Martin Broughton recently maintained that the financial negotiations will be handled by Barclays Capital, the bank mandated to run the sale process.

RBS have also denied having any discussions with potential buyers.

A spokesman for bank is quoted by The Herald as saying: "The guy [Huang] contacted us and we put him onto the club and the advisers. We have not had negotiations with him at all, there is a due process for any bidder."

Elsewhere, The Telegraph claims that a New York-based private equity firm, the Rhone Group, have rejoined the race to take control of the Merseyside club.

It is believed that the Rhone Group had previously made an approach to buy the club towards the latter stages of last season, offering £100 million to assume 40 per cent control - leaving the two current owners with 30 per cent each.

However, any potential bid that may have been made at the time did not reach fruition as no takeover took place prior to the conclusion of the 2009-10 Premier League season.

But now the Americans are said to have returned to compete with Huang and Kirdi to assume control of Liverpool.

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