The Observer says DIC regard Liverpool's trumpeted new £350 million refinancing deal as an expensive holding measure that will cost the club around £28m a year in interest, yet fail to solve Liverpool's requirement for significant new capital.

DIC consider the refinancing a waste of club money that could have been spent on the team or the stadium and attempted to prevent it by offering to buy the club for £500m last week. Sources at the Arab investment group insist that Tom Hicks and George Gillett indicated their intention to sell during takeover talks, but only after the new loan had gone through.