Dubai International Capital have confirmed they are in exclusive talks for a takeover of Liverpool.

The investment arm of the Dubai government are thought to be nearing a buy-out of the Merseyside club worth almost £400million (or £450 according to the BBC).

The private equity firm claim they have begun to examine the club's accounts but have yet to make a formal offer.

'Liverpool's investment requirements are well publicised,' DIC chief executive Sameer al-Ansari said in a statement.

The proposed deal is expected to include £200m to build a new 60,000-capacity stadium.