Times running this tomorrow. Times. Liverpool prepare for Arab takeover Oliver Kay Liverpool are close to accepting a £450 million deal that will allow a consortium from Dubai to become the latest overseas investors in English football. After a three-year search, the Merseyside club?s board believes that it has found the right deal to secure its long-term future and will allow the Dubai International Capital group (DIC), a subsidiary of the Arab state?s government, to begin the due diligence process this week. The news will spark a mixture of emotions among Liverpool supporters, but David Moores, the chairman, and Rick Parry, the chief executive, believe it is a deal that will allow the club to re-establish themselves at the summit of English football. Under the terms of the proposals, it is believed that DIC ? effectively owned by the al-Maktoum family, the billionaire rulers of Dubai ? will take on the club?s £80 million debts and provide up to £200 million for a new 60,000-capacity stadium, in addition to meeting Moores?s £170 million valuation of the club. In theory, this would allow work to start on the stadium in Stanley Park within months, while also providing funds for Rafael Benítez, the manager, to compete at the top end of the transfer market, but it is too early to say whether it would generate the kind of money that has enabled Roman Abramovich to turn Chelsea into the world?s richest club ? or indeed whether Liverpool, a club based on tradition and sensible housekeeping, would even favour such an approach. Liverpool have attracted offers from several other bidders, most recently George Gillett, the American billionaire, and John Miskelly, the Belfast-born property tycoon, but after serious consideration they are understood to have granted DIC, a subsidiary of the government-owned Dubai Holdings, due diligence, which gives them exclusive rights to study their accounts with a view to finalising a deal. The precise details of the proposals remain unclear, with uncertainty over whether it will be a full-scale takeover or whether DIC will merely take over from Moores as majority shareholders. It is also unclear whether Moores, whose family has been part of the furniture in the Anfield boardroom for 50 years, will stay in some capacity, but there have been indications that Parry will continue as chief executive. Unlike the Glazer family?s takeover of Manchester United last year, there is no great opposition to overseas investment in Liverpool, with many supporters regarding it as an opportunity to restore the club to the glory days of the 1970s and 1980s. There were serious concerns expressed when Thaksin Shinawatra, then Prime Minister of Thailand, made a high-profile bid to invest in the club in May 2004, but they had more to do with Thailand?s human rights record than with the principle of overseas ownership. There is certain to be concern, however, within the FA Premier League, which is known to be worried by the number of its clubs that have fallen into foreign ownership. In addition to Manchester United and Chelsea, Aston Villa, Portsmouth and West Ham United are all now owned by overseas investors.