A Saudi prince has revealed he is set to make a significant investment in a Premier League club, thought to be Liverpool. It is believed the Reds' owners Tom Hicks and George Gillett are prepared to sell a 50 per cent stake in the club to Prince Faisal bin Fahd bin Abdullah in order to help balance the books at Anfield.

"We are currently seeking to buy 50 per cent of the shares in the club which is now suffering with debts worth £245million (€266m)," Fahd bin Abdullah, who chairs private firm F6 and a Saudi-based holding firm called Fama Group, was quoted as saying in Al-Riyadh.

"The transaction, upon which a decision is close to be reached, will be worth £200m to £350m (€217m - €380m)."

A spokesman for Fama declined to comment, but it appears that the Premier League could be set to welcome further money from the Middle East.