DIC Distances Itself From Liverpool Takeover Talk

If Liverpool and Newcastle were hoping for a rich Arab backer to whisk them away from their current troubles, they may have to wait for a while after the Middle East investment arm of the Dubai government, DIC, distanced themselves from a takeover of an English club.

"Following inaccurate speculation regarding DIC and Liverpool FC, DIC can confirm that it is not involved in any negotiations to buy [Liverpool] and can confirm that it is not planning a fresh bid for LFC or any other football club," said DIC in a statement. "Nor is DIC or any other Dubai-based party aware of any consortium or vehicle involved in a bid."

The announcement came after claims that the Newcastle owner Mike Ashley had offered his club to DIC. Liverpool have long been linked with the group, but it now appears that any bid would come from a personal venture by the Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum.

Liverpool's current owners, Tom Hicks and George Gillett, have failed to raise sufficient funds to build a new stadium, while there is no confirmation they will be able to refinance their loans at Liverpool at the end of the year, when Sheik Maktoum would be most likely to make a move for the club.

Many fans have been vociferous in their wish for the Americans to sell up and Gillett and his minders are believed to have had to leave a Liverpool city center pub on Friday night amid concern for the American's safety.