Indian billionaire Subrata Roy in talks with Liverpool

Liverpool's future remains hotly debated despite official denials that the club are in talks with Indian billionaires Mukesh Ambani and Subrata Roy.

The Times, which broke the story on Tuesday, maintains that there is still a deal to be done with at least one of the magnates and claims that Roy's interest at least has been confirmed by "sources in India". It insists that discussions are taking place, although they are at an "early stage".

The paper also refuses to be put off by an official denial from Reliance Industries, owned by Ambani, which stated: "There is no truth to the report. We deny it completely." But the Times is adamant that India's richest man is still a "potential investor".

Liverpool manager Rafa Benitez has done his best to keep out of it, but he admitted that the club needed an injection of funds.

"We see a lot of rumours in the press, but we have to concentrate on football. Everybody knows that we need a new stadium and new investors if we want to go forwards," he said.

Liverpool's managing director Christian Purslow has been trying to lure investors to the club, but has had little success so far. Perhaps because few people want to get invovled with the dysfunctional regime of Tom Hicks and George Gillett, who are refusing to cede control of the club despite asking for a cash injection of £100m.

The offer that allegedly emanted from India would have seen Ambani or Roy pay off the club's debts of £237m in return for 51 per cent of the club. But such an arrangement does not suit the American owners.

It is not the first time Roy, who runs Indian conglomorate Sahara, has been linked with the Premier League. Sahara had been rumoured to be a replacement for AIG as Manchester United's shirt sponsor.

In India Roy's company backs the national cricket and hockey teams and in the run-up to this year's Commonwealth Games in Delhi he has pledged an "emotional commitment towards betterment of sports in India". ·