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Hicks, Gillett to open Liverpool books to DIC

The Times says Hicks has consistently claimed that he has no intention of selling his 50 per cent stake in the club, but, while he plans to retain some of his shares and some of his influence at Anfield for the immediate future, face-to-face discussions with DIC officials in Dubai and, more significantly, London last week have brought a deal closer.

Although a final agreement is understood to be some weeks away, with the Americans eager to maximise their profits after a turbulent 12 months in control, sources in the United States have indicated that they are ready to demonstrate their willingness to sell by granting a period of due diligence to DIC, the private-equity investment arm of the Dubai Government.

For now, no price has been agreed between DIC and either of the co-chairmen. The Americans, whose initial takeover just over 12 months ago was valued at £218.9 million, now put the club's worth at more than £400 million, but £350 million of that figure would be swallowed by the debts incurred as a result of their recent refinancing deal.

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