Talks to buy a stake in Liverpool are at an "advanced" stage, Dubai International Capital (DIC) confirmed today.
The investment arm of the Dubai royal family said however that no agreement had been reached over the price or the stake in the club.
A statement from DIC read: "Dubai International Capital confirms that it is in advanced discussions with the co-owners of Liverpool FC but that no agreement has been reached on price or shareholding percentage."
Talks between Liverpool's American owners Tom Hicks and George Gillett and DIC are expected to continue this week.
One possible outcome is that Gillett sells 49% of his stake to DIC and 1% to Hicks, allowing the Texan to maintain a controlling interest in the club.
Amanda Staveley, head of PCP Capital Partners, the private equity firm handling the negotiations on behalf of DIC, has claimed Gillett has agreed in principle to a deal.