Christmas has come early for George Gillett and fellow Liverpool co-owner Tom Hicks’ finances are also set to get a much needed boost.
Gillett banked a tidy £180million profit this week after his sale of Montreal Canadiens to the Molson brewing family was approved by the National Hockey League.
The 71-year-old paid £165million for the team and their Bell Centre arena back in 2001 and eight years on has more than doubled his investment.
Gillett made the decision to sell last year in a bid to ease the pressure on his other business interests, which as well as the Reds includes a Nascar motor-racing team.
Hicks is also in the process of off-loading one of his North American sports franchises.
Reports suggest three bids in excess of £300million have been received for his Major League Baseball club Texas Rangers. The Dallas businessman bought the Rangers for £150million in 1998 from a group that included former US president George W. Bush.
His reign has turned sour and earlier this year the Hicks Sports Group defaulted on £315m in loans tied to the Rangers and Hicks’ other major franchise, Dallas Stars ice hockey team.
The cash-strapped Rangers needed £9million from Major League Baseball’s central fund just to get through last season and Hicks put the club up for sale in an effort to ease mounting debts.
Recently Hicks back-tracked and revealed he was trying to put together a group of investors for a bid that would enable him to keep control.
However, it’s believed the league, which has the final say, have blocked Hicks’ plans and he has been told he has until December 15 to accept a winning bid.
Hicks is about as popular among Rangers and Stars fans as he is on the Kop. The 63-year-old has cut back wage bills and infuriated Rangers supporters by delaying refunds for play-off tickets which were void when the team’s slump meant they didn’t even qualify for the end of season showpiece.
With Gillett now £180million better off and Hicks’ windfall just around the corner, the question is what effect will all this have on Liverpool?
What is clear is that the American duo have no intentions of walking away from Anfield. If anything their extra cash tightens their grip on the club’s ownership.
However, the pair are pressing ahead with their search for third party investors. They want help to pay off the Reds’ £235m debt and to finance a new stadium.
They know the club’s value will only rocket when the Stanley Park development and the huge increase in revenue that will bring is guaranteed.
With more money in their pockets, Rafa Benitez can only hope the Americans loosen their vice-like grip on the Anfield purse strings in time for the January transfer window. But after the experiences of the past two and a half years, the Spaniard won’t be holding his breath.
Gillett banked a tidy £180million profit this week after his sale of Montreal Canadiens to the Molson brewing family was approved by the National Hockey League.
The 71-year-old paid £165million for the team and their Bell Centre arena back in 2001 and eight years on has more than doubled his investment.
Gillett made the decision to sell last year in a bid to ease the pressure on his other business interests, which as well as the Reds includes a Nascar motor-racing team.
Hicks is also in the process of off-loading one of his North American sports franchises.
Reports suggest three bids in excess of £300million have been received for his Major League Baseball club Texas Rangers. The Dallas businessman bought the Rangers for £150million in 1998 from a group that included former US president George W. Bush.
His reign has turned sour and earlier this year the Hicks Sports Group defaulted on £315m in loans tied to the Rangers and Hicks’ other major franchise, Dallas Stars ice hockey team.
The cash-strapped Rangers needed £9million from Major League Baseball’s central fund just to get through last season and Hicks put the club up for sale in an effort to ease mounting debts.
Recently Hicks back-tracked and revealed he was trying to put together a group of investors for a bid that would enable him to keep control.
However, it’s believed the league, which has the final say, have blocked Hicks’ plans and he has been told he has until December 15 to accept a winning bid.
Hicks is about as popular among Rangers and Stars fans as he is on the Kop. The 63-year-old has cut back wage bills and infuriated Rangers supporters by delaying refunds for play-off tickets which were void when the team’s slump meant they didn’t even qualify for the end of season showpiece.
With Gillett now £180million better off and Hicks’ windfall just around the corner, the question is what effect will all this have on Liverpool?
What is clear is that the American duo have no intentions of walking away from Anfield. If anything their extra cash tightens their grip on the club’s ownership.
However, the pair are pressing ahead with their search for third party investors. They want help to pay off the Reds’ £235m debt and to finance a new stadium.
They know the club’s value will only rocket when the Stanley Park development and the huge increase in revenue that will bring is guaranteed.
With more money in their pockets, Rafa Benitez can only hope the Americans loosen their vice-like grip on the Anfield purse strings in time for the January transfer window. But after the experiences of the past two and a half years, the Spaniard won’t be holding his breath.
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