London, Jan. 23: Liverpool are in talks to sell the club to billionaire Kuwaiti businessman Nasser Al-Kharafi - the world's 46th-richest man.

The club's financial chief Philip Nash and commercial director Ian Ayre have been sent to the Middle East this week for discussions over a possible 400 million pound deal.

An Anfield insider confirmed: "Talks are ongoing but there is real hope this could finally be the answer to all the club's problems - on and off the pitch."

Al-Kharafi had negotiations with Newcastle owner Mike Ashley only three months ago about the likelihood of a 300 million buy-out, which eventually fizzled out.

Liverpool has offered 64-year-old Al-Kharafi, who has a 12 billion pound fortune, a 50 per cent stake.

However, the Kuwaiti businessman is pushing for overall control before agreeing to a deal that could be worth 400 million pounds.

Liverpool have been beset by headaches ever since David Moores sold to the Americans instead of Sheikh Mohammad's DIC group two years ago next month. Sheikh Mohammad now insists he has lost interest. (ANI)