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End in sight for Reds talks

Saudi Prince believes negotiations to buy shares nearing final stages

Last Updated: 14/10/09 5:29pm

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Prince Faisal: Talks on-going

Prince Faisal: Talks on-going

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Saudi Prince Faisal bin Fahd bin Abdullah believes talks over his F6 company buying a major stake in Liverpool are nearing a conclusion.

Prince Faisal's comments came on Wednesday as Liverpool co-owner George Gillett visited Riyadh.

He said: "Our negotiations to buy shares in Liverpool are ongoing, meetings are taking place and we might be in the final stages in the coming days."

Gillett was in Riyadh mainly to discuss a project regarding the creation of Liverpool soccer academies around the region, Prince Faisal added.

In recent weeks, both parties have admitted that potential investment from the prince has been firmly on the agenda.

Gillett and club co-owner Tom Hicks have been seeking new investment in Liverpool after refinancing some of the club's large debt during the summer.

The two met with Prince Sultan bin Fahd, president of the Saudi Youth Welfare organisation and chairman of the Saudi League, on Wednesday.

"The purpose of the visit of the owner of Liverpool Football Club to Saudi Arabia is to understand the sports industry and to learn about the facilities and the potential of the main clubs in order to set up the Liverpool Academy in Saudi Arabia," Prince Faisal said.

The agreement between F6, a sports marketing and investment firm controlled by Faisal, would also provide opportunities for young Saudi players to train at Liverpool, he added.

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