Liverpool co-owner Tom Hicks has started to sell his US sporting assets to protect his stake at Anfield.
Hicks has sold the Mesquite Championship Rodeo, which he owned for 10 years.
The rodeo was worth less than £7million, but the move underlines Hicks' intention to raise funds to meet his massive debts. And he recently stopped making interest payments on a £360m loan related to his Texas Rangers and Dallas Stars sports teams.
Alongside George Gillett, he must also renegotiate the £350m loan with Royal Bank of Scotland and US bank Wachovia, which enabled them to buy Liverpool.
Gillett is in the process of selling his Montreal Canadians Hockey team. If the pair can't pump in more funds, they are vulnerable to having to sell Liverpool for far less than their excessive £500m valuation.
Sport of the World revealed last week how investors from cricket's Indian Premier League are the latest to be courted by Hicks as the chase for cash becomes increasingly desperate.
Liverpool manager Rafa Benitez will be hoping any financial uncertainties can be sorted out soon so he can begin preparing for next season.
Hicks has sold the Mesquite Championship Rodeo, which he owned for 10 years.
The rodeo was worth less than £7million, but the move underlines Hicks' intention to raise funds to meet his massive debts. And he recently stopped making interest payments on a £360m loan related to his Texas Rangers and Dallas Stars sports teams.
Alongside George Gillett, he must also renegotiate the £350m loan with Royal Bank of Scotland and US bank Wachovia, which enabled them to buy Liverpool.
Gillett is in the process of selling his Montreal Canadians Hockey team. If the pair can't pump in more funds, they are vulnerable to having to sell Liverpool for far less than their excessive £500m valuation.
Sport of the World revealed last week how investors from cricket's Indian Premier League are the latest to be courted by Hicks as the chase for cash becomes increasingly desperate.
Liverpool manager Rafa Benitez will be hoping any financial uncertainties can be sorted out soon so he can begin preparing for next season.
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