Friday, September 04, 2009

Liverpool To Benefit As Tom Hicks Lines Up Buyers

The financial concerns that have dogged English soccer club Liverpool could be a thing of the past if the club's co-owner, Tom Hicks, completes the US$600 million sale of the Texas Rangers, and focuses his interests on the Premier League.

Hicks, who dissolved Hicks Sports Marketing Group earlier this summer, was reportedly forced to depend on US$15 million from Major League Baseball to help pay wages at the franchise in August.

Despite that, he appeared to rethink his decision to sell, announcing, "There is a way [to keep the team], and I'm working on that. So we'll see."

However, sources close to Hicks now insist he will sell. According to Sports Business Journal, the Texas Rangers have received letters from six prospective buyers.

That is good news for Liverpool, where there has been widespread dissatisfaction with Hicks and his co-owner, George Gillett, since their takeover in 2007.

Now, with both men consolidating their interests, it appears that Liverpool will have an increased amount of attention - and financial support - from the two Americans.

"The process is moving forward and we're encouraged by what's happening there," said Bob DuPuy, MLB's president and chief operating officer, to SBJ.

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