Liverpool will not be 'rich man's plaything'

Liverpool's chief executive Rick Parry is insistent the club will not become a "rich man's plaything" if the prospective takeover by Dubai International Capital goes through.

The firm, an investment company for Dubai's ruler Sheikh Mohammed bin Rashid Al Maktoum, is still working through the club's accounts but is expected to make a formal offer worth around £450m. The sheikh is believed to be the fifth richest person in the world with a fortune that dwarfs even that of Chelsea's owner, Roman Abramovich, but Parry says Liverpool will not indulge in profligate spending.

He insists the takeover, which would include funding for a new stadium, can secure Liverpool's position among the elite for a century. Parry said: "We are focused on success but we want a club that will not be ludicrously profligate. It is not just about throwing money at a challenge, that is not a sound long-term strategy. It is definitely not about being a rich man's plaything. It is about taking Liverpool FC to the next level and securing the future of the club for the next hundred years."

Parry said the aim would be for Liverpool to use the investment to run the club as a successful company and take advantage of their international fan base. He said DIC would benefit from being associated with a global brand.

"It is ensuring that we maximise our revenue-generating potential and running the club as successfully as we possibly can," said Parry, who is expected to keep his position, with DIC's chief executive, Sameer al-Ansari, possibly becoming chairman.

"At the same time it is choosing the right partner, it is paramount to ensure that such a partner understands the values and heritage of the club and respects them. The most important aspect of our heritage is success and winning trophies. That is the thing that matters most to everyone who follows Liverpool and that will always remain the focus.

"We have absolute confidence that DIC would be very good partners for a club of our size and stature. We are a global brand and it is crucial that any deal is a corporate investment with the club run as a top-class business. What a new partner would benefit from is a great heritage [and] a worldwide fan base."

Parry said the takeover was not yet "a done deal", but admitted he was excited. He said: "We always look forward with a focus on the challenges ahead, not least the new stadium and the need to get on with that rapidly. In that sense it is a proposal not without risk, but we are all very excited about the long-term future of the club and hope we have found an ideal partner. Things are not over yet, despite suggestions to the contrary saying it is a done deal. Detailed negotiations continue, and we are clearly very excited to have reached this stage because discussions have been going on for a long time."

Parry confirmed that should the takeover go through, the current chairman, David Moores, would be given a boardroom role. He said: "David Moores will have a role to play moving forward. Of course he wants that. After all, he is a lifelong fan not just the owner."

A DIC source said: "We are very much in agreement with Rick Parry's remarks. If we do a deal we would aim to have a long-term relationship with Liverpool. We will get the stadium built and help the club move on to the next level."