Indian tycoon Mukesh Ambani has moved quickly to deny reports that he has made an offer to secure a 51% stake in Liverpool.
Described by the Times as the “seventh-richest man in the world”, it was reported that Ambani’s company Reliance Industries was one of two parties interested in buying the club.
Liverpool are seeking new investment in the club in order to clear the debts accrued following the takeover by Tom Hicks and George Gillett in 2007. According to reports, Ambani would wipe out Liverpool’s debt of £237 million in exchange for a 51 per cent stake in the club.
Despite suggestions that talks have taken place between the interested parties and the club, Reliance has firmly distanced itself from claims that a bid has been tabled.
“There is no truth to the report. We deny it completely,” Reliance spokeswoman Sudeep Purkayastha stated.
However, Subrata Roy’s Sahara Group have refused to deny the same report, which named it as the other party to make an offer for the club. “We are presently not in a position to comment,” explained Sahara spokesman Abhijit Sarkar.
The adverse economic climate has also seen development on a new stadium in Stanley Park grind to a halt, although the club’s owners insist that work will soon commence.