jimmy
01-13-2008, 09:21 AM
English Premier League
Liverpool could be sold again
By Fox Sports staff writers (http://www.foxsports.com.au/story/0,8659,23045714-29437,00.html)
January 13, 2008
REPORTS from the United Kingdom suggest Liverpool could be set for another takeover, just one year after the club was bought by American businessmen George Gillette and Tom Hicks.
The Guardian newspaper reports the pair are facing difficulties in refinancing the $770 million of debt they incurred when they took over the club in February last year.
Gilette and Hicks’ purchase of Liverpool was funded with borrowed money and with the loan due for repayment at the end of February, it is reported the pair face severe problems in trying to restructure it and are yet to inject any new equity into the deal.
With the spiraling costs of building a new stadium, and trying to placate angry fans and manager Rafael Benitez, it is possible the Americans could look to sell the club to Dubai International Capital, an Arab investment group for about $1 billion.
DIC were close to acquiring the club last year before Liverpool chose to go with the Americans. However, Liverpool board members are rumoured to be dissatisfied that Hicks and Gillette have been unable to secure the club’s financial situation and are said to be open to the possibility of a second buy-out.
Disgruntled fans, already dismayed at the team’s performance on the field and public spats between Benitez and the club’s owners will be left to ponder on the future of their manager, their team and plans to build a state-of-the-art 60,000-seat stadium in Stanley Park.
Liverpool could be sold again
By Fox Sports staff writers (http://www.foxsports.com.au/story/0,8659,23045714-29437,00.html)
January 13, 2008
REPORTS from the United Kingdom suggest Liverpool could be set for another takeover, just one year after the club was bought by American businessmen George Gillette and Tom Hicks.
The Guardian newspaper reports the pair are facing difficulties in refinancing the $770 million of debt they incurred when they took over the club in February last year.
Gilette and Hicks’ purchase of Liverpool was funded with borrowed money and with the loan due for repayment at the end of February, it is reported the pair face severe problems in trying to restructure it and are yet to inject any new equity into the deal.
With the spiraling costs of building a new stadium, and trying to placate angry fans and manager Rafael Benitez, it is possible the Americans could look to sell the club to Dubai International Capital, an Arab investment group for about $1 billion.
DIC were close to acquiring the club last year before Liverpool chose to go with the Americans. However, Liverpool board members are rumoured to be dissatisfied that Hicks and Gillette have been unable to secure the club’s financial situation and are said to be open to the possibility of a second buy-out.
Disgruntled fans, already dismayed at the team’s performance on the field and public spats between Benitez and the club’s owners will be left to ponder on the future of their manager, their team and plans to build a state-of-the-art 60,000-seat stadium in Stanley Park.