Liverpool co-owner George Gillett is in talks about selling a significant portion of his stake.

The Sunday Mirror says Gillett was in talks on Saturday night about selling a 25 per cent stake in the Anfield club to an Arab prince in a deal worth £125million.

He has met with Prince Khalid al-Faisal and members of the Saudi royal family about investment opportunities at Liverpool.

Discussions initially began about various commercial projects but quickly progressed into talks aimed at bringing the prince in as a co-owner to work alongside Gillett and his fellow American Tom Hicks.

Any share deal would require the blessing of Hicks before it could be rubber-stamped. And although Hicks is yet to meet personally with Prince Khalid, it is understood that the Texan is ready to welcome a new partner if the terms of the deal are right.