* Gillett's stake targeted
* F6-Gillett deal covers stadia construction (Adds quotes, detail, background)
By Souhail Karam
RIYADH, Sept 28 (Reuters) - Private Saudi sports investment firm F6 is in talks with George Gillett, the American co-owner of English soccer club Liverpool, to buy all or part of his 50 percent stake in the club, a company official said.
Investors from Gulf Arab countries have shown growing interest in acquiring soccer clubs in the English Premier League. Last month, United Arab Emirates' investor Sulaiman al-Fahim completed a takeover of Portsmouth football club, while Abu Dhabi United Group for Development and Investment bought Manchester City last year.
"We have not reached a final agreement yet ... We are discussing how much 25 percent or 50 percent in Liverpool will be worth," F6 Deputy Managing Director Gassim Hamidaddin said.
F6 has signed a memorandum of understanding with the George Gillett Group for exclusive cooperation that would lead to opening Liverpool academies in the Middle East and North Africa and develop race tracks to introduce NASCAR motor racing to the Middle East.
"There was a clause in this agreement that opened the possibility of buying a stake in Liverpool ... It (agreement) also covers business development and the construction of stadia," Hamidaddin said on Monday.
He could not clarify if this meant F6 would help fund the construction of a new stadium for Liverpool, a project which has been delayed by the global credit crisis, according to the club's owners.
Liverpool are keen to raise fresh cash to help challenge for top footballing honours and fund the construction of the new stadium, as well as finance debt estimated at 245 million pounds.
F6 is jointly owned by Saudi Prince Faisal bin Fahd bin Abdullah and Saudi businessman Majed al-Hugail. Liverpool is England's most historically successful club, with 18 league titles and five European Cup triumphs.
On Sunday, al-Riyadh newspaper quoted F6 Chairman Prince Faisal as saying he was willing to pay between 200 million and 350 million pounds ($318 million to $556.5 million) for between 25 and 50 percent of the Anfield Stadium side. [ID:nLR52139]
Hamidaddin said these figures "were not 100 percent accurate".
"This price bracket is not binding for us. It all depends on the stake we will end up buying and the amount of the debt the club has".
Gillett and fellow American Tom Hicks -- Liverpool's co-owner -- have had a stormy relationship since purchasing the club for 218.9 million pounds in 2007 and neither wants to sell his stake to the other.
The two men were in talks in January to sell the club for 500 million pounds including debt to investors from the region, including Kuwait, but talks broke down over price, one of those involved said. [ID:nLA534957]
UAE-based Dubai International Capital has also vied for a stake in Liverpool and last year made a 400 million pound bid for the club, but no agreement was reached on the price or shareholding percentage.
Last year, Forbes Magazine estimated Liverpool to be worth $1 billion, excluding debt, placing it as the fourth-most valuable football team in the world after Manchester United, Real Madrid and Arsenal.
Liverpool are currently third in Britain's Premier League. (Editing by Rupert Winchester)