ANFIELD WARZONE
Gillett and Hicks go head-to-head over club
KOP MAN - George Gillett (left) at Anfield next to Prince Faisal
LIVERPOOL are the subject of a possible £200million investment from a Saudi billionaire - and that has re-ignited the bitter war between Tom Hicks and George Gillett.
The Anfield co-owners are still both trying to sell each other's half of the club.
Prince Faisal bin fahad bin Abdullah al Saud attended yesterday's 6-1 thrashing of Hull as a guest of Gillett and was even taken into the dressing room to meet the team.
Although he was aware of the Saudis' attendance, Hicks was not part of any of the discussions with or invitations to the Prince, who claims he will negotiate for as much as 50 per cent of the club.
Sources close to Gillett insist the Prince's visit was primarily about setting up Liverpool FC Academies in the Middle East, playing down the guest's investment talk.
But Sport of the World understands the invitation is part of ongoing efforts by the co-owners to oust the other from the Anfield boardroom. The pair are pursuing new co-investors separately. Prince Faisal, who was flanked by three bodyguards in the Directors' Box, is chief executive of F6, a marketing and investment company in Saudi Arabia.
OWNERS - George Gillett (left) and Tom Hicks. The co-owners are still both trying to sell each other's half of the club.
He is the latest in a series of potential investors invited to Anfield. His primary interest is in sports such as powerboat racing. He is president of Saudi Water Sports Federation and has shown little previous interest in football.
Ironically, Hicks has appointed financial advisors Merrill Lynch to seek millions from Saudi Arabia and across the Middle East. Again, he has acted independently from Gillett.
Gillett is currently in a stronger financial position than his co-owner, having sold the Montreal Canadians ice hockey side for around £360m. Hicks has consistently flexed more muscle in his boardroom power struggles.
He has overseen the appointment of managing director Christian Purslow, forced through the five-year extension to Rafa Benitez's contract and the departure of ex-chief executive Rick Parry.
Last year, owners of the Delhi Daredevils Indian Premier League club were wined and dined by Hicks.
Leaked documents compiled by Merrill Lynch and sent to potential investors last March underline why Liverpool are still desperate for investment.
Until they raise the funds to build the new stadium on Stanley Park, the club will continue to lose as much as £55m per year in matchday income.
Despite this, manager Benitez has been assured a £100m kitty over the next five years, providing Liverpool consistently reach the last 16 of the Champions League.
Qualifying for the group stages of the competition has long been Benitez's minimum requirement to raise funds.
But he must ensure Liverpool are in the knockout stages every season until 2014 to preserve his current £20m-a-year net spend. The club's ambitious budgeting is a consequence of Benitez achieving this goal in every season since his arrival.
Liverpool have failed to progress into the quarter-finals just once since his move to Merseyside in 2004.
And a win over Fiorentina in Italy in midweek would go a long way to securing a safe passage this season, too, preserving his spending power next summer.
The transfer vow, although heavily incentivised through on-field performance, is partially reassuring to Kop fans, especially as this figure will grow if Liverpool reach the later stages or win the competition.
The co-owners insist they have outspent Arsenal and Manchester United since taking over Liverpool.
Both Hicks and Gillett are increasingly hitting back at claims they have failed to invest in the team since their controversial takeover three years ago.
Sources close to the duo say they are baffled at the unfavourable financial comparisons with Arsenal and Manchester United, who they insist they have outspent since taking over Liverpool.
The club's own study into transfer activity revealed how, up until the end of last season, the Merseysiders had splashed out £205.3m on players since 2004, recouping £98.75m from sales.
That figure does not take into account an estimated £10m invested on youth players over the same period.
Fans desperate for the Americans to sell their stake have warned about the club becoming the next Leeds United, but club insiders dismiss those fears.
Gillett was confronted by angry fans at Liverpool's Academy yesterday morning, when he launched a stern defence of his role at the club and refuted claims of financial instability.
A Kop source told Sport of the World: "It's nonsense to suggest Liverpool is going the same way as Leeds.
"The documents leaked are out of date. They were written last November and don't take into account the refinancing last summer or the record sponsorship deal we've just completed, but you can see how prudent the club is being.
"We are not spending above our means and the targets set were based on the last five years' income.
"A net spend of £20m per season compares favourably with our top four rivals. You only have to look at what Liverpool, Arsenal and Manchester United have spent over the same period to see that."
However, the latest developments underline how fragile the recent truces are. And there could be further divisions ahead over the appointment of a new chief executive.
Gillett is anticipating a shortlist for Parry's replacement to be drawn up as early as next week and sees Purslow's role as merely transitional.
The managing director has been commuting from London twice a week since joining the club, although his exceptional performance so far means he is likely to take a broader, long-term role.
