Reports suggest Reds takeover is back on

Liverpool are reportedly in discussions with a wealthy Middle Eastern family over a possible £500million takeover.

Reports this morning suggested the Merseyside club's American owners Tom Hicks and George Gillett are in talks with the Kuwaiti Al-Kharafi family.

The Al-Kharafi family, who are led by one of the world's 50th richest men, Nasser Al-Kharafi, have a reported fortune of around £9billion.

Nasser's nephew, Rafed Al-Kharafi, is believed to be the key negotiator as the two parties try to reach an agreement which came close to happening last year.

There is believed to be a growing divide between the two American owners due to the ongoing problems with the delayed construction of the new stadium plus the renewal of manager Rafa Benitez' contract.

The duo have hit a number of setbacks since their own £219million takeover of the club in February 2007, and with their finance deal with the Royal Bank of Scotland and Wachovia - two companies severely affected by the global economic crisis - set to expire, a sale appears to be a favourable option.

RTE