LIVERPOOL £350M AMNESTY

NEW DEAL - George Gillett (left) and Tom Hicks are being given time

George Gillett and Tom Hicks given time to re-finance debt

RAFA BENITEZ - hope

By CHRIS BASCOMBE, 16/05/2009

LIVERPOOL owners Tom Hicks and George Gillett will be granted a six-month amnesty on their massive £350million debt.

The Royal Bank of Scotland is to make a re-finance offer to the Americans to ease their immediate cash worries. But the deal will demand the pair guarantee to pump millions of their own funds into Liverpool to retain control of the club.

Gillett and Hicks are now finalising negotiations which will give them a temporarily reprieve from the threat of selling Liverpool on the cheap this summer.

The current deadline expires in July but Sport of the World understands a new two-phase deal is on the agenda. The short extension will be followed by a second, longer-term loan providing Hicks or Gillett raise more cash before January, 2010.

Hicks and Gillett may still need to raise as much as £150m between them to keep a grip on Anfield - but the duo are increasingly bullish they will meet deadlines.

Amid hopes the worst of the economic crisis is easing, the club's owners are also desperate to revive their stalled stadium plans.

Talks with Liverpool city planners to expand their £500m stadium scheme into a 73,000-capacity arena are continuing.

Liverpool want to accommodate an extra 10,000 fans by developing transport links around Stanley Park. The Americans know a business plan which promises revenue from an additional 25,000 tickets per home game could reassure their bankers.

A 73,000-seater stadium would raise over £70m a year in matchday revenue, double their current income from tickets.

Meanwhile, Rafa Benitez will urge his side to do their bit to improve his transfer kitty by as much as £5m by securing a top-two finish.

The difference between finishing second and third in the Premier League can make a huge financial difference - perhaps even enough for an extra signing.

Your comments

This article has 10 comments

They don't give two hoots about liverpool football club. I wish time could turn back to when Mr.Moores was selling the club... Hicks and Gillet are in it for a quick buck. Sell up for the market value, go home and take your debt with you!

By nkk.. Posted May 18 2009 at 12:50 PM.

Far be it for me to tell the Government how to behave, but wouldn't the time be ripe to get Rogan Taylor's fan consortium to pay £100m per year for 5 years to buy them out?

By Rhys Jaggar.. Posted May 17 2009 at 12:13 PM.

well done man u
keep it up yanks u r doing a great job!!!!!!!!!!

By true blue.. Posted May 17 2009 at 11:15 AM.

I can't believe that RBS keep making these decisions with our taxpayer money. Seriously it is now our taxpayer money that is keeping these two conmen at Liverpool. I mean is it really a concern for the British taxpayer if two slimy Americans have to sell a football club at its market value instead of being able to make a huge profit ??? Any investigation/clarification NOTW could provide as to who is actually making these decisions at RBS would be most welcome to the millions of Reds worldwide who are thoroughly disgusted by RBS's actions.

By jim.. Posted May 17 2009 at 10:40 AM.

they dont care about rafa they dont care about the fans lpool football club is in the wrong hands

By doddy.. Posted May 17 2009 at 10:31 AM.

YIPPIEKAYAY

By John.. Posted May 17 2009 at 9:49 AM.

Im sure if Rafa could have been given enough cash to buy top strikers last year Liverpool Fc 100% could have clinch trophy yesterday, this is a leassons to club owners.

By Ibrahim Ali.. Posted May 17 2009 at 9:44 AM.

the bank think the best option is G&H for the club shame on them

By maikel.. Posted May 17 2009 at 8:00 AM.

RBS only care about making as much money from interest as possible. How else can they justify granting this extension, given they could get their money back by forcing a sale?

The Yanks only care about the bottom line and achieving the maximum return on their investment.

The club deserves better.

By Jimmy.. Posted May 17 2009 at 1:28 AM.

come on lad drop the price and sell up. you'll never make a profit out of the club with this debt

By paul wright.. Posted May 17 2009 at 1:10 AM.

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