According to the News of the World this morning, George Gillett must raise 50 million pounds within the next six weeks if he is to retain co-ownership of the Merseyside giants.
Gillett must pay back a massive loan he took out by using the club as collateral, by January 25. The Sunday newspaper speculates that co-owner Tom Hicks may revive his attempts to buy out Gillett.
There is also thought to be hope that investors from Dubai, who have made clear in recent weeks that they won’t be buying the Premier League club, will return to the negotiating table.
Gillett agreed a £50m loan with Mill Financial last January, but his debt has been put up for sale by the bank with a repayment deadline set for the end of January. If an investor buys the debt and Gillett fails to repay it, he’ll be forced to give up his 50 per cent stake in Liverpool.
Liverpool’s American owners could have further financial issues to solve by July 2009, when they have to find new investment ahead of a 350 million pound financing deal next July.
Gillett must pay back a massive loan he took out by using the club as collateral, by January 25. The Sunday newspaper speculates that co-owner Tom Hicks may revive his attempts to buy out Gillett.
There is also thought to be hope that investors from Dubai, who have made clear in recent weeks that they won’t be buying the Premier League club, will return to the negotiating table.
Gillett agreed a £50m loan with Mill Financial last January, but his debt has been put up for sale by the bank with a repayment deadline set for the end of January. If an investor buys the debt and Gillett fails to repay it, he’ll be forced to give up his 50 per cent stake in Liverpool.
Liverpool’s American owners could have further financial issues to solve by July 2009, when they have to find new investment ahead of a 350 million pound financing deal next July.
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