according to Rawk Saudi state press reporting it:
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http://www.alriyadh.com/2009/09/27/article462423.html
Roughly translates to say that contracts were signed this evening for the the future academies and that they have also agreed to buy 50% of the club.
million pounds sterling value of the deal expected
Lead investor bought 50 percent stake in Liverpool
Riyadh - Saadoun Alawimmeri:
Saudi investor expressed interest in purchasing 50 percent stake in Liverpool Football Club, said Chairman of the Board of Directors f6 Prince Faisal bin Fahd bin Abdullah, said his company signed on yesterday, "Saturday," investment contracts with the club owners, and with a private company to club owner George Gillette specializes motorsports, said in a statement to "Sport Low": "We signed this evening, several decades with Liverpool Football Club, after my visit to the club and attending the match against Hull City, and contracts is an investment and the establishment of sports academies will be channeled in the interests of sport in Saudi Arabia the future, and we'll create academies in the Kingdom we will select the future, in addition to a similar number in North Africa. "
And Prince Faisal Bin Fahad said: "We are at the present time to acquire a 50 percent stake in the club, who are currently suffering from debts of up to 245 million pounds sterling, and the value of the deal would tend to discount soon about 200 to 350 million pounds, and in if the contract was signed, this will become a great club that is one of the best and most famous clubs. "
He stressed the importance of these contracts, saying: "We thought this step because we seek to serve the nation through these partnerships that will benefit the sport which is developing the Saudi cause for pride, and hope that the unfortunate luck in the completion of the purchase of shares of the club."