Liverpool: Saudi prince bringing a fortune for Gillett but not for club

Despite the fact that Liverpool owners Tom Hicks and George Gillett have welcomed the possibility of investment in Liverpool from the Middle East, the main subject of Saturday's meeting with Prince Faisal bin Fahd bin Abdullah al-Saud, a member of the Saudi Royal Family, was focused more on Gillett's Nascar interests than his stake in the English soccer club.

"We are currently seeking to buy 50% of the shares in the club which is now suffering with debts worth £245 million," Fahd bin Abdullah was quoted as saying in the Al-Riyadh newspaper. "The transaction, upon which a decision is close to be reached, will be worth 200 to 350 million pounds."

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However, despite those quotes, it is believed that the main subject of the meeting concerned the Richard Petty Motorsports Nascar team, of which Gillett is a part-owner.

It is thought that the two men discussed the possibility of building Nascar-style race tracks in Saudi Arabia. "We are constantly looking for ways to expand our presence throughout the world and this is one step we are considering," said Gillett in a telephone interview with Bloomberg last week.

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One piece of news that does concern the club, however, with Fahd bin Abdullah apparently keen on partnering with Liverpool to open a new soccer academy in the country.