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DIC looking for Liverpool sale by 2014

Dubai International Capital, the investment firm bidding to takeover Liverpool F.C., is planning to sell the FA Premier League club for an immense profit by 2014 according to a document leaked to the media.

According to the document, intended for circulation among possible investors into the DIC consortium, the takeover is meant as a short-term acquisition and sale process as opposed to any lengthy relationship.

Cardiff City secure last ditch takeover

A last-minute takeover deal to secure the future of Coca-Cola Championship team Cardiff City FC has been signed although the identity of the investors remains unknown.

There were fears that the club could have been put into administration if a deal was not done by the end of this week to sell former chairman Sam Hammam's controlling stake.

The £27m buyout of Hammam's majority shareholding is set to clear the Bluebirds' debts and leave the club with a budget to strengthen the team, which has undergone a slump in form after weeks at the top of the Championship.

Newcastle confirms Polygon approach

Newcastle United have confirmed that a consortium backed by American group Polygon are one of the parties that have approached the board about a possible offer for the club.

Newcastle United chairman Freddy Shepherd revealed that the Polygon-backed St James' Park Group Limited have made an approach and requested access to the club’s accounts.

Shephard however insisted that the club board ‘have not accepted any proposals for the company from any party’.

Stevens: 17 transfers need more investigation

Lord Stevens’ report into illegal payments in Premiership football has been revealed with 17 of the total 362 transfers investigated requiring further analysis for wrongdoing.

The Premier League, through Lord Stevens, will now review the 17 outstanding transfers, which have not been named, to find out the exact nature of the illegalities although the league’s chief executive Richard Scudamore said that the investigation had not been helped by a ‘small but significant number of agents’ who would not co-operate.

Tote valued at £400m by government

Tote, the state-owned horse racing betting business, is to be sold off by the government at a market value in the region of £400m.

The government has invited a consortium of racing interests together with management and staff of the Tote itself, to make a final bid for the betting franchise.

The consortium consists of the Race Course Association, the Racehorse Owners Association and the Racecourse Holdings Trust.

The consortium has been requested to submit its bid by January 26.

Premier League set to hear Stevens report

Lord Stevens’ report into corruption in football transfers among top flight clubs is expected to be presented internally to a three-man Premier League committee this week.

The report, which is expected to identify clubs and agents accused of taking bungs in football transfers, will initially be reviewed by the committee who will then decide whether any disciplinary proceedings will be taken.

Lemley hits out over 2012 costs

Speaking publicly for the first time since quitting as head of the Olympic Delivery Authority, Jack Lemley has accused the government of ignoring his repeated warnings over spiralling costs for London 2012.

Lemley, who left the ODA in October, has labelled the financial estimates for the construction projects for the Games as a ‘swamp’ and that ‘a blind man could see’ the problems associated with the Olympic site.

Liverpool close to finalising takeover

The recent spate of foreign interest in FA Premier League clubs shows no sign of abating with Liverpool on the verge of accepting a £450m takeover bid from a Dubai-based consortium.

According to media speculation, the Dubai International Capital group will be allowed to press forward with the takeover this week although there is still interest in the club from other parties including American billionaire George Gillett.

IOC watchdog voices support for 2012

The IOC’s watchdog body which is running the rule over the progress of London 2012 has dismissed recent criticism of the organising committee, stating it is ‘very happy’ with the progress so far.

The London 2012 organising committee has been under pressure in recent weeks after Culture Secretary Tessa Jowell reported to the House of Commons that construction costs for the Olympics had risen to £3.3bn.

However, IOC co-ordination commission chairman Denis Oswald told Olympics executives there would be no ‘knee-jerk reactions’ to claims of spiralling costs.


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