An American tycoon has joined the race to buy Liverpool, delaying the completion of any ownership deal.
George Gillett, a billionaire who owns the Montreal Canadians ice hockey club, is
preparing to offer £5,000 per share according to the Daily Mirror, which would value the club at £172 million.
Gillett had an initial bid for the club rejected by chairman David Moores, who subsequently accepted a bid from Dubai International Capital (DIC).
However, that deal is taking longer than expected to complete according to the Liverpool Echo, and Gillett is looking to exploit the delay.
Both Liverpool and DIC representatives, who were present at Saturday's Premiership defeat of Chelsea, had hoped to conclude the deal this month to release transfer funds for the manager, Rafael Benitez, and to enable work on the new stadium to start immediately. But those plans were placed on hold last night when
Gillett informed Liverpool he was ready to make an increased bid for the club.
Though Liverpool's chairman and majority shareholder, David Moores, has agreed terms with DIC, Gillett is entitled by company law to register a rival bid once the Dubai group have completed due diligence, the period that grants a business exclusive access to the club's books. The Premiership club are also bound by company law to allow the 68-year-old the same period of due diligence that they gave to DIC, which will delay any takeover for at least another month.