Liverpool co-owners reject DIC bid

Liverpool: Dubai International Capital's bid for Premier League club Liverpool has been rejected by co-owners Tom Hicks and George Gillett Jr. on Tuesday.

An insider said the $800 million offer for the English club, which had a 24 hour deadline, was turned down.

Hicks has said he is committed to retaining his 50 percent share in Liverpool. Gillett is reportedly willing to sell but Hicks has said he can block Gillett from selling his stake.

DIC has been in close contact with Gillett in recent weeks after deciding to end his ties with Liverpool. Hicks is looking into buying all or part of Gillett's equal stake by raising private equity.

The DIC bid was made a day after chief executive Sameer Al Ansari said Hicks and Gillett had "come out of dreamland" over the worth of the Premier League club.