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LIVERPOOL £350M DEBT RELIEF
George Gillett and Tom Hicks find more time to repay
MONEY WORRIES - Liverpool owners George Gillett (left) and Tom Hicks
LIVERPOOL’S owners have been given a six-month amnesty before repaying their massive £350million debts.
Tom Hicks and George Gillett faced the possibility of their refinancing agreement with the Royal Bank of Scotland ending in January.
But after triggering the option of delaying repayments, the Americans now have until July to either cement their position or maximise the value of the club.
Although this gives the pair more leeway as they deal with the repercussions of the worldwide economic squeeze, it’s still believed the clock is ticking on their Liverpool reign.
Potential buyers from Dubai hope the extension will simply delay rather than block a fresh New Year bid.
Optimistic noises continue regarding the American’s intentions to sell, even though talks have also been ongoing with RBS to raise a further £100m to begin work on the delayed Stanley Park stadium.
Gillett is understood to be more receptive to the idea of selling Liverpool but has given no indication he is actively pursuing a deal.
Hicks has never publicly wavered from his hard line in refusing to sanction takeover talks.
There is a possibility the crisis in the American economy could help Hicks if some of his debts are written off as part of the US government’s crisis measures.
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i hope david moores is having sleepless nights after selling the club to these two clowns lets hope they wake up and smell the coffee and sell and the only reason rbs has extended is by giving dumb & dumber more time to find the money pay the debt because there skint.
By john harrison. Posted October 3 2008 at 11:59 PM.
GO NOW YANK STAKE YOUR DOLLARS AND GO!!!!
These two prats (Tom Hicks and George Gillett) have killed our club
liverpoolfc
By philip williams. Posted October 1 2008 at 11:17 AM.
Do the two americans not understand that no one wants them at the club.They have been full of false promises since thay arrived and surely they should just leave with a hefty profit in their pockets and let us get on with trying to win the premiership. PLEASE PLEASE PLEASE JUST GO BACK TO THE STATES.....
By Neil Haydon. Posted September 29 2008 at 5:26 PM.
i have to say it is the boards fault ,they sold for a bit more money,and have well and truly cocked up.these yanks have put massive dept on the club,whilst both are meant to be billionairs,dont see them puting there own fortunes in !!.we have one chance to get out of this mess,sheik mohhamiid!needs to be soon!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
By steven finlay. Posted September 28 2008 at 2:56 PM.
Steve Morgan's wife once accused David Moores of prefering to do a deal with the devil rather than her husband, well he did just that. For £500 per share the board refused to sign the agreed deal with DIC and sold to those pair. The debt is on the club so the fans are paying for their purchase. The HKS stadium will bankrupt the club. We had 60,000 seats for 230m now we have 60,000 seats for 350m. 10k future expansion at 120m ???.
with man city and vill coming good, will they spend to win the eague or sustain 4th spot.
its a viscious circle as its rafa's genius in europe that is keeping them around, an early exit from the cl or no qualification and we'll be finished.
By red angel. Posted September 28 2008 at 2:24 PM.
Well it gives the fan consortium 6 extra months to come up with the 500 million pounds they are looking to raise to buy the clumsy yanks out.
By tom hallahan. Posted September 28 2008 at 1:56 PM.
To Arsenal forever
What an idiot you are. You calim you have an English board - yeah right that's why you just had to sell a large stake to a foreign investor to stop another foreign investor taking over.
And if you board is as English as you claim - its all the more reason why you (and they) should hang you head in shame.
Just how many English players does your "English" board invest in?
Certainly less than Hull and look where that got you :-)
By What an ARSenal idiot. Posted September 28 2008 at 2:09 PM.
if Hicks and Gillette really care about our great club,they should just own up and say they dont have the money to invest in the team,build a new stadium and stop everyone laughing at us,sell the club and go back home and we can all forget about your SORRY tenure as our patrons.YNWA 4EVER.
By graeme wylie. Posted September 28 2008 at 2:04 PM.
Ha ha. Thats wat you get for selling out. The pool board wer after money and sold every hope pool ever had. . Thank god arsenal are still holding firm. . The only true english board who really supports the team. . Chelsea . . Pool and united. . All sell outs. At least we arsenal fans know we have ******* morals . . Ha ha. . So much for the greatest football club in the world. . My white arse!
By Arsenal forever. Posted September 28 2008 at 1:46 PM.
You made your bed now lie in it . I can remember when they took over you all wasn't cryin then ha ha ha .....
By mr m hughes. Posted September 28 2008 at 1:43 PM.
GO NOW YANKS,your not welcome here!!!
your ruining the best football club in the world
TAKE YOUR DOLLARS AND GO!!!!
By bobbyone. Posted September 28 2008 at 12:51 PM.
These two prats (Tom Hicks and George Gillett) have killed our club the sooner there out the better, whatever happened to being a supporter of a football club, not using it as a way of making money.
By Sooty. Posted September 28 2008 at 11:42 AM.
The possibility of some of Hicks debts being written off disgusts me. The money he has and the lifestyle he leads.What about your plain ordinary working man who works everyday of his life for peanuts compared to him? Anybody fancy writing my mortgage off.....didn't think so.
By Mr Michael Hall. Posted September 28 2008 at 11:36 AM.