Hicks terminates talks with Dubai group

MANCHESTER, England -- Liverpool co-owner Tom Hicks terminated talks with a Dubai consortium Monday over acquiring a minority stake in the Premier League club.

His decision came hours after Dubai International Capital said its negotiations were moving along with co-owner George Gillett Jr.

Hicks can block Gillett from selling because of a pre-emption agreement that says one partner can't sell his stake without the other's approval. The duo's relationship has broken down since they bought Liverpool for $431 million in March 2007.

"I have decided to terminate any further discussions with DIC regarding their possible purchase of a minority stake in Kop [Holdings] and, in turn, in the club," Hicks said in a statement. "DIC made it clear that if they invested in the club, they would want it to be managed by committee."

Hicks, who owns the Texas Rangers and Dallas Stars, was trying to ensure DIC wouldn't use its financial muscle to force him out of Anfield. Casey Shilts, the chief operating officer at Hicks Sports Group, and Hicks' son, Mack, met with the UAE group Monday.

"Based on my 13 years of successful experience as an owner of professional sports teams, and based in particular on the situation at Liverpool Football Club over the past year, it is clear to me that such a committee approach would not be in the best interest of Kop, of the club or of the club's loyal and passionate supporters," Hicks said.

Over the weekend, Hicks denounced DIC's conduct in trying to acquire 49 percent of the Reds from Gillett. Hicks said other parties would be preferred to buy most of Gillett's stock.

On Tuesday, Liverpool will try to become the fourth English team to reach the quarterfinals of the Champions League when it faces Inter Milan. The Champions League is Liverpool's last chance of winning a title this season.