Saudi royal to buy 50 pct stake in Liverpool

Saudi Arabia's Prince Faisal bin Fahd bin Abdullah al-Saud is close to buying a 50 pct stake in Liverpool Football Club for up to $560.4 million, a local daily reported citing an interview with the prince.

"We are looking at the present time to acquire a 50 pct stake in the club, which is currently suffering from debts of up to £245 million," Al Riyadh quoted Prince Faisal as saying.

"The value of the deal, which will be finalised soon, is around £200 million to £350 million pounds," Prince Faisal said, according to the paper.

Prince Faisal signed "several contracts" with Liverpool on Saturday on behalf of F6, a company he chairs, which include "sports investments and setting up academies" in Saudi Arabia and North Africa, the paper quoted him as saying.END