Liverpool's American owners have seen an Arab takeover bid collapse. The Sun says George Gillett and Tom Hicks held secret talks with a new Middle East consortium - and were willing to sell the club for less than £500million.

Talks were so advanced that due diligence, the process of going through the Anfield accounts, took place last month.

The accounts even forecast the Kop outfit would make a projected profit of £45million by the end of this season - a claim city experts believe is totally unrealistic.

But Hicks and Gillett were left empty-handed when the Arabs dramatically walked away at the 11th hour.

The news puts the Americans under intense pressure to accept the £500m offer still on the table from Dubai International Capital, who have a long-held interest in buying the club.