Reports - Reds reject DIC bid

Image: Gillett and Hicks: Rumoured to have rejected offer

Reports suggest Liverpool co-owners George Gillett and Tom Hicks have rejected DIC's £400million bid for the club.

Gillett and Hicks rumoured to have turned down £400m bid

Reports suggest Liverpool co-owners George Gillett and Tom Hicks have rejected Dubai International Captial's (DIC) £400million bid for the club. It is understood DIC, the private equity investment arm of the Dubai Government, made a lucrative offer to the American duo on Tuesday morning. However, reports now suggest the Liverpool co-owners - who took over at Anfield in February 2007 - have turned down the approach, although it is said that Hicks has not formally rejected the bid. DIC were initially competing with Gillett and Hicks to assume control of Liverpool in January last year before pulling out of the deal to allow the American duo to complete their takeover.

Buy-out

The battle for ownership at Liverpool has been the subject of widespread speculation over recent months with Hicks and Gillett reportedly unsettled on Merseyside. Hicks is rumoured to be looking to buy-out partner Gillett to take full control of the Premier League club and he has previously denied he is looking to sell, despite admitting to holding discussions with DIC. Gillett and Hicks are said to have suffered a breakdown in their relationship, while the American pair also experienced a much publicised bust-up with Anfield boss Rafa Benitez over the club's January transfer policy. However, these latest reports suggest Gillett and Hicks are keen to keep control of their holding in Liverpool.

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