Tom Hicks has sought the advice of American investment bank Merrill Lynch as he prepares to bid for full control of Liverpool Football Club by buying out his alienated co-owner George Gillett.
Hicks and Gillett seized joint ownership of Liverpool in February 2007 in a daring ₤218.9 million venture designed to lift the Merseyside club back to the pinnacle of English football.
However, things have not gone totally to plan, as Hicks has since strayed woefully offside of manager Rafael Benitez and the majority of the immense Liverpool fanbase.
Recently there have been reports of a strain in the relationship between the two American owners, and it has surfaced that over the past two days Hicks has been meeting with senior bankers from Merrill Lynch, among other institutions, to discuss options regarding the financing of a bid that would see Gillett ushered out of the club.
Such options include:
· An additional loan on top of Hicks’ recent ₤350 million refinancing with the Royal Bank of Scotland, which would allow him to buy out Gillett’s 50 per cent stake in the club
· Persuading a number of new private investors to collectively buy out Gillett’s share
· Engaging in another refinancing deal that would raise the ₤300 million required for Liverpool’s new stadium at Stanley Park
However, reports from the United States indicate that Gillett will not sell his stake to Hicks, regardless of whether he is able to raise the required funds.
Speaking with a Toronto radio station last week, Gillett outlined the hostility that has between him and Hicks, saying that his partner’s less than favourable standing with the Liverpool supporters has rendered the option of selling out to him an “untenable alternative”.
And it is believed that Gillett has already agreed to relinquish his stake to Dubai Investment Capital, the company which initially competed for Liverpool ownership over a year ago and has been constantly linked with a renewed takeover bid in recent months.
But Hicks cancelled discussions with DIC last month, vowing to block any potential deal between them and Gillett.
Hicks and Gillett seized joint ownership of Liverpool in February 2007 in a daring ₤218.9 million venture designed to lift the Merseyside club back to the pinnacle of English football.
However, things have not gone totally to plan, as Hicks has since strayed woefully offside of manager Rafael Benitez and the majority of the immense Liverpool fanbase.
Recently there have been reports of a strain in the relationship between the two American owners, and it has surfaced that over the past two days Hicks has been meeting with senior bankers from Merrill Lynch, among other institutions, to discuss options regarding the financing of a bid that would see Gillett ushered out of the club.
Such options include:
· An additional loan on top of Hicks’ recent ₤350 million refinancing with the Royal Bank of Scotland, which would allow him to buy out Gillett’s 50 per cent stake in the club
· Persuading a number of new private investors to collectively buy out Gillett’s share
· Engaging in another refinancing deal that would raise the ₤300 million required for Liverpool’s new stadium at Stanley Park
However, reports from the United States indicate that Gillett will not sell his stake to Hicks, regardless of whether he is able to raise the required funds.
Speaking with a Toronto radio station last week, Gillett outlined the hostility that has between him and Hicks, saying that his partner’s less than favourable standing with the Liverpool supporters has rendered the option of selling out to him an “untenable alternative”.
And it is believed that Gillett has already agreed to relinquish his stake to Dubai Investment Capital, the company which initially competed for Liverpool ownership over a year ago and has been constantly linked with a renewed takeover bid in recent months.
But Hicks cancelled discussions with DIC last month, vowing to block any potential deal between them and Gillett.
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