Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum has dropped his interest in buying Liverpool, according to reports released on Saturday (December 6th).
Sheikh Mohammed has been pursuing the Premier League leaders for around two years and was thought to be willing to pay up to £500 million to secure ownership of the club.
At the turn of the year, he enlisted the support of Amanda Staveley in order to thrash out a deal with the current owners of the Reds, George Gillett and Tom Hicks.
However, Staveley has informed the Americans and their respective legal teams that the deal is off as a result of the current financial climate and their "unrealistic" £600 million valuation of the club.
The pair are thought to be desperate to attain a six-month extension to the £350 million loan they took out from Royal Bank of Scotland and Wachovia to buy the club, which expires on January 25th.
And although they believe there is at least one Middle-Eastern party still interested in making an offer, the revelation is unlikely to sit comfortably with Liverpool fans, some of whom have made no secret of their dislike for them.
Liverpool have won a record 18 titles in the top division of English football.
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
