Liverpool FC has sought the help of investment bank Merrill Lynch to find a buyer for the club, according to a report in The Times newspaper.

Out of the 20 clubs in the Premier League, Liverpool has been one of the hardest hit in the credit crunch due to the £350 million that American owners George Gillett and Tom Hicks borrowed that has to be refinanced this January or next July at a time when their bank, the Royal Bank of Scotland, may be unwilling to restructure the loan. The Royal Bank of Scotland was bailed out by the British government just last week.

The Times newspaper reported that auditors looked at Liverpool’s books last week as part of the beginning process of finding a buyer, but no buyer has been found thus far.

Sheikh Mohammed bin Rashid Al Maktoum, prime minister of the United Arab Emirates, was interested in buying Liverpool FC in the past but it’s believed that the American owners are now asking too much money for the club, reportedly up to £550 million.

The best thing for Liverpool, its players and fans would be for Dubai International Capital (DIC) or a similar business group to purchase the Merseyside club, ridding the club of the very unpopular American owners Hicks and Gillett, and moving on a course to build a new stadium in Stanley Park.

What do you think? Will DIC and the American owners be able to compromise and work out a deal? Or will the future of the club drag out until a new owner can be found?

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Tom and George’s excellent adventure may come to an end, according to The Observer, as Liverpool owners Hicks and Gillett have not been able to transfer their 350m GBP of debt onto the club.  Should they not meet a Feburary deadline, the duo would likely accept a 500m GBP bid for the club by Dubai International Capital (DIC).

Hicks and Gillett finally have something in common with the rest of us plebs who don’t own our own private jet, they are getting rammed from behind by the sub-prime mortgage and housing crises and eroded bank confidence.  The Royal Bank of Scotland, who furnished the loan for the team, have asked the two owners to put in 20m GBP each from their own coffers as part of a restructuring deal.  At least one of the owners has refused.  What?  You have to pay money to buy one of the largest football clubs in the world?

The DIC bid is headed by Sameer Al Ansari, a Liverpool fan.  Should the bid go through, DIC would, according to The Observer, refocus spending into the development of a new stadium and improving the quality of the squad.  They also will look to pry The Special One away from his undoubtedly lucrative Setanta deal.

The sale has hardly been close to finalized, and the fat-cats at the bank will surely not want to see two of their fellow brethren caught with their pants around their ankles.  There is a high probability they come to some sort of a deal.  However, it will engender some good old fashioned racist rumor-mongering from the tabloids, to be followed with a moralistic rant from Gabriele Marcotti on The Game Podcast.  At least it will provide a welcome respite from transfer rumors and the bipolar Manchester United – Arsenal hubbub.

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