Liverpool owners reject £400m DIC takeover

Liverpool co-owners Tom Hicks and George Gillett have rejected Dubai International Capital's £400million bid for the Premier League club.

The offer, which would represent a £25million profit for each of the American tycoons, was immediately turned down, an associate involved with the negotiations revealed. He spoke on condition of anonymity because of the sensitivity of the situation. The source also suggests that Hicks had not formally rejected the offer but has made it very clear that he is unwilling to sell his share in the club. Hicks is committed to retaining his 50 percent share in Liverpool while Gillett is reportedly willing to sell. Hicks has said he can block Gillett from selling his stake. Although no formal statement is expected from Hicks, his stance remains the same as last month, when he said: 'Reports that I am about to sell my stake in the Liverpool Football Club, or to invite DIC to examine the club's books in preparation for such a sale - like other such reports planted in the UK press in recent weeks by parties with their own self-interested agenda - are absolutely and categorically false. 'The reality is that I am personally, professionally and financially committed to the club and its supporters and I will continue to honour that commitment to the best of my ability now and in the future.' The American duo bought the club last year for approximately £218m - beating a rival bid from the Dubai consortium. Hicks also owns the Texas Rangers and the Dallas Stars.