Wednesday, June 23, 2010

Royal Bank of Scotland Turn Up The Heat On Liverpool FC Owners


The Royal Bank of Scotland are ready to turn up the heat on George Gillett and Tom Hicks to pursue a quick sale of Liverpool Football Club.

Liverpool supporters bombarded RBS Chief Executive Stephen Hester with an email campaign recently, aimed at getting the bank to reconsider the financing deal they have in place with the Reds’ co-owners.

A substantial part of Liverpool’s £237m debt is owed to the government-owned RBS and Hicks and Gillett were forced to re-negotiate an extension on the terms of the deal back in spring.

The RBS have made it clear they are prepared to be patient to maximise Liverpool’s hopes of obtaining a successful sale of the club but they do not want it dragging on unnecessarily – as they want to see the Reds flourishing.

An email to one Reds’ fan from Roger Lowry, the RBS’ head of public affairs, read: “We are confident that the Chairman and the Board will be mindful of the need to avoid any unnecessary delay in concluding a sale, as it is in no one’s interest to risk deterioration in the performance of the Club prior to it being sold.

“Our common goal is the long-term success of Liverpool Football Club and the Bank’s primary objective is to ensure financial stability, so that the Club can continue to perform both on and off the football pitch.

“There is little more I can add at this juncture, only to reiterate we are supportive of the steps that have been taken and we hope to have the opportunity to continue our financial support for the Club under its new ownership, once determined.”

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