FA Premiership:The proposed takeover of Liverpool by George Gillett Jnr moved a step closer to completion last night after it emerged that the American had joined forces with his compatriot Tom Hicks, the owner of the Texas Rangers and Dallas Stars, to raise the funds for a £470 million (€700m) bid.

The alliance between the American franchise owners was revealed as their former suitors, Dubai International Capital (DIC), launched a scathing attack on the Premiership club for the breakdown of talks, with Liverpool accusing the group backed by Sheikh Mohammed bin Rashid al Maktoum of attempting to "bully" them into agreeing a deal.

Yet confirmation that Gillett's interest will be supplemented by that of Hicks has offered Liverpool a more than attractive alternative, and one which they hope could come to fruition as early as next week.

The American businessmen, who have worked together on the board of Gillett's Swift & Co meat processing firm, will go 50-50 towards securing the club's shares, valued at about £175 million, and will also underwrite the potential £215 million construction of a new stadium on Stanley Park and guarantee the current debts of about £80 million.

Gillett, who once owned the Miami Dolphins and still owns the Montreal Canadiens ice hockey team, met Hicks last week where the idea of a partnership gathered pace.

Hicks (60), was in England this week for discussions with Liverpool before returning to the US last night. The club's owners are encouraged by Gillett's new business partner's extensive experience in sport - his Southwest Sports Group bought the Rangers baseball side in 1998, the Stars ice hockey franchise in 1995, and they own Mesquite Championship Rodeo - and are reassured that there would be two backers, effectively providing the club with far more stability in that they will not be at the whim of a single backer.

The chairman, David Moores, will sell his 51.6 per cent shareholding, receiving about £88 million for a stake he purchased for nearer £12 million in 1991, but will remain on the board under the new owners, as will Rick Parry, the chief executive.

A formal announcement is expected next week, although confirmation of the Americans' joint venture, backed by its financial clout, has appeased shareholders, supporters and manager Rafael Benitez as the club's war of words with DIC rages in the background. A source close to Sheikh Maktoum insisted yesterday DIC had grown "fed up with Liverpool's attitude" and the club's board had behaved "dishonourably" after switching their sights on to Gillett's revised proposals, submitted last week.

Parry spent yesterday attempting to reassure all comers the surprise severance of talks with DIC, which he had described as "ideal partners" a few weeks ago, would not have serious long-term repercussions for the club. He insisted Moores had not rejected DIC at the last because a deal with Gillett and Hicks would swell the price received for his 51.6 per cent stake by £8 million.

"We had a duty as directors to consider a very interesting bid from George Gillett," said Parry. "The price is not the factor in David Moores' mind. He is not after cash for himself, absolutely not, but he felt compelled to consider the rival bid. The DIC response was to give the club 12 hours to make a decision, but the chairman was not prepared to have the club bullied like that. The only thing David is concerned about is the club being in the right hands for the future."

• Guardian Service