Liverpool Takeover: Manchester City Owner's Cousin Fails In $2.56 Billion Bid

Manchester City owner Sheikh Mansour’s cousin reportedly tried and failed in a potential takeover bid of Liverpool Football Club with a massive 2 billion pound ($2.56 billion) offer. Sheik Khaled Bin Zayed Al Nehayan, an Emrati member of the family that governs Abu Dhabi, is said to have approached the owners of the English Premier League club over the course of the last 10 months with a view of buying a 100 percent stake in the club.

According to the Daily Mail, Midhat Kidwai, the managing director of Sheikh Khaled’s conglomerate of companies met with Liverpool chairman Tom Werner in New York. The buyout of the club was expected to be a collaboration between the Sheikh Khaled and a minority Chinese partner.

The report claims the meeting was mainly between the interested party and American investment firm Allan & Co, who handle all such proposals on behalf of the Fenway Sports Group, the current owners of Liverpool FC. Despite meeting Werner in New York, Sheikh Khalid’s proposal was not discussed with principal owners John W. Henry and Michael Gordon.

The Mail further claimed Sheikh Khaled — through his firm, Bin Zayed International and Swiss hedge fund, Alternative Advisors — sought to raise funds to the tune of 750 million pounds. The document between the two is said to confirm that an agreement had been reached for the sale of the club for 2 billion pounds.

“The client wishes a financial partner for the acquisition of a British football club,” the statement read, as per the Daily Mail.

“Client has confirmed to AA that the current shareholder of the club agreed to sell 100% of the share of the club on the basis of a 2bn-pound valuation.”

The valuation and sale would have broken the world record for a takeover at the club with the Glazer Family currently holding the record after their 790 million pound takeover of Manchester United.

Liverpool have come out and categorically denied they had any agreement for the sale of the club with the Abu Dhabi investor. The Premier League club, however, confirmed that they are opening to taking on board a minority investor if it will benefit the club to further their commercial interests in new markets.

“FSG have been clear and consistent: the club is not for sale,” a statement from Liverpool read.

“But what the ownership has said, again clearly and consistently, is that under the right terms and conditions we would consider taking on a minority investor, if such a partnership was to further our commercial interests in specific market places and in line with the continued development and growth of the club and the team,” the statement added.

Liverpool rank number eight in the newest Forbes list of most valuable soccer clubs in the world – their arch rivals Manchester United lead the way, with Real Madrid, Barcelona, Bayern Munich and Manchester City rounding out the top five.