Friday, September 18, 2009

Tom Hicks Hopes £100m Middle East Investment Drive Will Help Fund Liverpool's New Stadium


Merrill Lynch has been instructed by Tom Hicks, co-owner of English soccer club Liverpool, to find a minority investor prepared to pay UK£100 million for a 25 per cent share of the Premier League team.

'It is understood the firm is now targeting businesses or wealthy individuals in the Middle East who would be prepared to buy a minority stake, allowing the Americans Hicks and (co-owner George) Gillett to retain majority control,' reports The Guardian newspaper.

'The co-owners value the club at £500m, despite postponing the proposed new stadium indefinitely in the current economic climate, but a minority shareholding would come at a discount.'

Gillett claimed last weekend: "The club is in outstanding shape. Economically, it's never been stronger. We just paid down our debt very substantially. We have less debt per dollar than any club in the league."

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