Sunday, April 26, 2009

Delhi Daredevils owner in buy out talks with Liverpool

English Premier League club Liverpool is in talks with the billionaire owners of an Indian Premier League cricket team that could lead to a massive investment and an eventual buy-out. Representatives of the GMR group, who run the Delhi Daredevils IPL side, were guests at last week's clash with Arsenal. GMR chairman Grandhi Mallikarjun Rao is worth an estimated 4.2 billion pounds and the senior official he sent to Liverpool in midweek is known to be a supporter of the club, News of the World reported.

Hicks started the talks initially with a view to securing a sponsorship deal, but Bangalore-based GMR have made no secret of their desire to branch out into other sports. Rao (58) made his millions in the airport and construction industry and recently formed a subsidiary company to invest in sport, with English football considered the most attractive. A Liverpool source said: "The GMR group were invited by Hicks and their representative watched the Arsenal match in the directors' box with Hicks' son Tommy. It was quite clear the representative was a fan. "When you look at the company's commitment to sport they're exactly the type of partner Tom would be looking for". Liverpool's American owners have been scouring the globe for finance to stave off the threat of having to sell the club on the cheap in July.

No comments: