Indian tycoons linked with Liverpool takeover

Could the Premier League be about to get its first Indian sugar daddy? The league already boasts an array of owners from as far afield as Russia, America, Hong Kong and Abu Dhabi, and now it is reported that two Indian tycoons have set their sights on Liverpool.

The Times claims that Liverpool have become a takeover target for India's wealthiest man, Mukesh Ambani, the owner of conglomorate Reliance Industries. Ambani is the seventh richest man in the world, but faces competition from fellow countryman Subrata Roy, chairman of another major Indian company, Sahara Group.

It is reported that both men have tabled similar bids that would involve paying off the Liverpool's £237m debt in return for a 51 per cent stake in the club.

Liverpool's chief executive, Christian Purslow, has denied knowledge of either bid, but the Times claims that approaches began late last year and that some preliminary talks have taken place.  While Ambani denied the reports, Roy refused to comment.

Liverpool's current owners, Americans George Gillett and Tom Hicks, have been told by the RBS bank that they must raise £100m by the summer or put the club up for sale. Although the pair are desperate for cash they are refusing to accept any deal that leaves them with less than a 50 per cent stake in the club - unless they bail out altogether.

Last year the Americans were said to be in talks with other investors including Prince Faisal of Saudi Arabia, but no investment was forthcoming.

Hicks and Gillett are deeply unpopular at Anfield. The manager Rafa Benitez has been given little money for transfers and the pair have been blamed for the club's debts and the failure of plans for a new stadium.

Both Ambani and Roy already have links with Indian cricket. Ambani owns the Indian Premier League franchise the Mumbai Indians while Roy's Sahara Group is the Indian national team's shirt sponsor. ·