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Dubai firm makes ?400m offer for Reds soccer club

Dubai International Capital (DIC) made a ?400 million (US$795 million) offer for Liverpool yesterday -- and gave the club's embattled American owners a 24-hour deadline.

An executive working on the bid told the press that DIC -- the private-equity investment arm of the Dubai government -- wants an answer within 24 hours from Tom Hicks and George Gillett Jr. He spoke on condition of anonymity because of the sensitivity of the negotiations.

The bid was made a day after DIC chief executive Sameer al-Ansari said Hicks and Gillett had "come out of dreamland" over their valuations of the Premier League club.

Hicks has repeatedly vowed to retain his 50 percent stake in Liverpool, and a person familiar with the Texan's plans last week told the press that he is looking into buying out all or part of Gillett's equal stake.

But Gillett, whose relationship with Hicks has reportedly broken down, has been in close contact with DIC in recent weeks after deciding to end his troubled spell at Anfield.

Hicks and Gillett bought Liverpool for ?218.9 million in March last year. This included an agreement to pay off about ?45 million of debt and a pledge to build and finance a new stadium.

Gillett and Hicks refinanced their Liverpool deal with a ?350 million package from two banks on Jan. 25.

But the package left the 18-time English champion with debt of ?105 million.

Liverpool's debts would be wiped out if the Dubai bid was successful, the executive said.

BECKHAM VISIT ENDS IN CHAOS

AFP, SHANGHAI

Soccer star David Beckham visited young leukaemia patients at a Shanghai hospital yesterday, the ensuing chaos forcing police to seal the institution's doors to control a frantic surging crowd.

Hundreds of fans, media, staff and curious bystanders prompted police to shut off access to a wing of Xinhua Hospital, a reporter said, barring anyone from entering or leaving for several hours.
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