This follows a very public spat with co-owner George Gillett and chief executive Rick Parry over the future of the club. Hicks is also under pressure from Liverpool fans and prospective buyers Dubai International Capital.
Sources close to the deal said talks have been under way for some time and the two parties are rumoured to be close to resolution on a contract. Freud declined to comment.
The appointment will add another string to Hicks' PR bow - he already uses FD on a financial brief.
PR teams appear to have been brought in on every side of the spat, with Parry said to be receiving advice from Vero Communications founder Mike Lee.
DIC is using Square One Consulting co-founder David Bick - mentioned in an explosive Sky Sports interview last month. Hicks has been subject to fearsome protests since November, when it was revealed there was a plan to replace Liverpool manager Rafa Benitez with former Germany manager Jurgen Klinsmann.