Tom Hicks and George Gillett may have to swallow their pride and accept a take-it-or-leave-it £500million buy-out offer from Sheikh Mohammed in the wake of grim forecasts about their prospects of steering Liverpool through a worsening financial crisis.
With the deadline looming for repayment of a £350million loan to Royal Bank of Scotland, Liverpool's co-owners face a dilemma over their next move, following claims from financial expert Keith Harris that the Anfield club are 'the ones who worry me most.'
Sportsmail understands a £500million bid from Sheikh Mohammed is still on the table, after being lodged last February, but that it may be withdrawn, if the Americans are forced into a corner by their bank.
Hicks and Gillett are considering asking RBS for a six-month extension on their debt but are acutely aware of the implications, should their plea fail.
A healthy profit of up to £75million each still awaits them, if they accept defeat in an often acrimonious power battle with the Dubai leader and pocket his long-standing offer, but the terms could change drastically, if they take it to the wire and are denied more time to raise the necessary funds.
A refusal from RBS would be followed by an instruction to sell-up, and the Sheikh would need no crash course in the rudiments of business to sense a killing. Hicks and Gillett would no longer have any bargaining power, and a revised figure of around £350million, just enough to clear the arrears, would be the likely outcome.
With the credit crunch biting ever deeper, and Hicks and Gillett struggling to service debts and plans for a new stadium, they are unlikely to risk waiting for the bank's January 25 deadline and may even force the issue in the next few weeks.
Gillett indicated a willingness to deal with Sheikh Mohammed earlier this year, given the package would clear the £350million the American pair owed and still leave a surplus to be shared between them, but Hicks remained defiant.
The oil-rich billionaire is keen to pursue a rivalry with Manchester City's Abu Dhabi owners and is confident it is only a matter of time before he finally assumes control at Anfield. Time appears to be running out for the Americans, who are playing a game of brinkmanship that could leave them out of pocket if RBS bow to pressure from the current economic climate and call in their debt over the next couple of months.
Anfield fans' group ShareLiverpoolFC continue to demand a role in the club's future ownership but are still awaiting an invitation to talks from Hicks and Gillett.
Meanwhile, Harris appeared to backtrack over his claims that there seemed little chance of finding a buyer for Everton.
'There are certainly grounds for optimism,' he said. 'It is a terrific club, and having Bill Kenwright as chairman is one of its strongest selling points. I did not say there was no hope of selling Everton. There are plenty of people having a serious look.'
With the deadline looming for repayment of a £350million loan to Royal Bank of Scotland, Liverpool's co-owners face a dilemma over their next move, following claims from financial expert Keith Harris that the Anfield club are 'the ones who worry me most.'
Sportsmail understands a £500million bid from Sheikh Mohammed is still on the table, after being lodged last February, but that it may be withdrawn, if the Americans are forced into a corner by their bank.
Hicks and Gillett are considering asking RBS for a six-month extension on their debt but are acutely aware of the implications, should their plea fail.
A healthy profit of up to £75million each still awaits them, if they accept defeat in an often acrimonious power battle with the Dubai leader and pocket his long-standing offer, but the terms could change drastically, if they take it to the wire and are denied more time to raise the necessary funds.
A refusal from RBS would be followed by an instruction to sell-up, and the Sheikh would need no crash course in the rudiments of business to sense a killing. Hicks and Gillett would no longer have any bargaining power, and a revised figure of around £350million, just enough to clear the arrears, would be the likely outcome.
With the credit crunch biting ever deeper, and Hicks and Gillett struggling to service debts and plans for a new stadium, they are unlikely to risk waiting for the bank's January 25 deadline and may even force the issue in the next few weeks.
Gillett indicated a willingness to deal with Sheikh Mohammed earlier this year, given the package would clear the £350million the American pair owed and still leave a surplus to be shared between them, but Hicks remained defiant.
The oil-rich billionaire is keen to pursue a rivalry with Manchester City's Abu Dhabi owners and is confident it is only a matter of time before he finally assumes control at Anfield. Time appears to be running out for the Americans, who are playing a game of brinkmanship that could leave them out of pocket if RBS bow to pressure from the current economic climate and call in their debt over the next couple of months.
Anfield fans' group ShareLiverpoolFC continue to demand a role in the club's future ownership but are still awaiting an invitation to talks from Hicks and Gillett.
Meanwhile, Harris appeared to backtrack over his claims that there seemed little chance of finding a buyer for Everton.
'There are certainly grounds for optimism,' he said. 'It is a terrific club, and having Bill Kenwright as chairman is one of its strongest selling points. I did not say there was no hope of selling Everton. There are plenty of people having a serious look.'
No comments:
Post a Comment