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Liverpools Hicks in talks with hedge funds

Date: Tuesday, December 30, 2008
Author: Reuters.com

Liverpool FC’s co-owner is talking to hedge funds to help him raise funds to buy the football club and start building a new stadium, the Daily Telegraph reported on Monday.

The U.S. billionaire, who wants to buy out the 50 percent of the club controlled by co-owner George Gillett, is talking to some of the hedge funds that helped finance the Glazer family’s purchase of Manchester United, such as Perry Capital, Och-Ziff Capital Management and Citadel, the newspaper reported.

While one hedge fund rejected the approach, others are still in talks with Hicks’ advisors, the newspaper said.

Hicks could not immediately be reached for comment.

-Reporting by Elena Moya; Editing by David Holmes