Liverpool co-owner George Gillett could face a battle to keep his 50 per cent holding in the club.
In January this year Gillett pledged part of his stake as collateral for a personal, 19 per cent interest $75 million loan with US firm Mill Financial.
Mill, part of Virginia-based Springfield Financial, has put the debt up for sale with at least one outside party believed to be interested.
If Gillett fails to purchase or refinance the debt and defaults the new lender could seek to call an administrator with a view to taking the collateral – Gillett's holding in Liverpool – as payment.
Ron Devine, Springfield Financial's founder, said: "I'm very uncomfortable commenting on the note. It is a matter for Mr. Gillett."
In January this year Gillett pledged part of his stake as collateral for a personal, 19 per cent interest $75 million loan with US firm Mill Financial.
Mill, part of Virginia-based Springfield Financial, has put the debt up for sale with at least one outside party believed to be interested.
If Gillett fails to purchase or refinance the debt and defaults the new lender could seek to call an administrator with a view to taking the collateral – Gillett's holding in Liverpool – as payment.
Ron Devine, Springfield Financial's founder, said: "I'm very uncomfortable commenting on the note. It is a matter for Mr. Gillett."
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