Gillett unlikely to derail DIC

Dubai International Capital remain on course to complete a takeover of Liverpool despite the club admitting an approach was made by American businessman George Gillett on Friday night.

The announcement was made to the Stock Exchange to comply with the Takeover Code and in response to growing speculation in the last week.

The statement to shareholders read: "Following the recent press speculation, and to comply with our obligations under the Takeover Code, Liverpool Football Club today confirms that it has received an approach from George Gillett which may or may not lead to an offer. Shareholders will be kept informed as appropriate."

Liverpool sources this week insisted the takeover of the club by DIC could be confirmed "within weeks", despite reports of Gillett's interest. And a successful deal with DIC would mean that work on the club's new stadium in Stanley Park could start in March, with a two-year completion date.

Gillett, the owner of Montreal Canadiens ice hockey club who has already had a bid to buy the Reds rejected by David Moores, has recently written to the Liverpool chairman offering an increased deal.

It was announced on national television that Gillett had been granted permission to start a process of due diligence.

However, Liverpool sources distanced themselves from such a move and claim they are soldiering on with the conclusion of negotiations with DIC, who are intent on completing their £450million bid to gain control of the Anfield club.

The latest move by Gillett, who is able to study the club's finances legally because he is a bidder, is considered to be a red herring by the Liverpool hierarchy as they move towards the successful completion of their negotiations with DIC.

A source said: "It doesn't really matter what George Gillett does, he is able to see the club's books because he is a bidder for the club. But the club will continue working with DIC and are close to a satisfactory conclusion."