Parry defends Liverpool investment tactics
Liverpool look set for move away from Anfield whoever takes control
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Thursday, 01, Feb 2007 11:26
Liverpool chief executive Rick Parry has defended the club's actions in the wake of the collapse of a proposed takeover by the Dubai International Capital group (DIC).
The Reds' board were unwilling to accept the offer made by DIC in a meeting on Tuesday until they had considered a rival bid from American businessman George Gillett.
"The DIC response to this was to give the club 12 hours to make a decision. But chairman David Moores was not prepared to have Liverpool bullied," Parry told the Liverpool Echo.
The consortium, headed by the fifth-richest man in the world Sheikh Mohammed, lost patience as Moores and the rest of the board continued to entertain the possibility of entering into an agreement with the owner of ice hockey's Montreal Canadiens.
But Parry denies that the higher valuation of the club's shares in Gillett's proposal, a factor that would net Moores alone around an extra £8 million, was a consideration.
"The price is not a factor in David's mind. He is not after cash for himself, absolutely not, but he felt compelled to consider the rival bid," Parry said.
"We didn't want to rush into any decision, and we were aware DIC might walk away."
It seems that the collapse of the DIC bid will not affect the Reds' plan to move into a new stadium, crucially without a ground share.
"George Gillett has made it absolutely clear to us he will not be in favour of a ground share. There will be funding for the new stadium and a proper commitment to investment in the team," Parry said.