Time passes on in the efforts of Liverpool’s American owners, Tom Hicks and George Gillett, to mobilize funds to manage the mammoth £350 million debt.
The Royal Bank of Scotland and Wachovia are expected to grant the owners a further extension on the loans, which are set to expire tomorrow.
Meanwhile, according to a report in the Irish Independent, two groups of fans - Spirit of Shankly and ShareLiverpoolFC - formed due to dissatisfaction with the current owners, are hoping to realise their dream by purchasing a majority stake in the Merseyside club.
ShareLiverpoolFC is planning to raise £10m by selling shares at £500 on a one-person-one-share basis, and an additional £140m through the sale of additional loan stock to the fans. Once the £150m has been raised, the support groups plan to use these funds to bid for a majority stake in the club in order to gain control, and seek a further £100m from a commercial partner.
The ambitious fans plan to exchange the remaining debt £100m by making it a convertible loan stock in the club, which the banks would buy over a 20-year period.
ShareLiverpoolFC and Spirit of Shankly were formed 18 months ago after the supporters grew dissatisfied with Hicks and Gillett's running of the club.
The Royal Bank of Scotland and Wachovia are expected to grant the owners a further extension on the loans, which are set to expire tomorrow.
Meanwhile, according to a report in the Irish Independent, two groups of fans - Spirit of Shankly and ShareLiverpoolFC - formed due to dissatisfaction with the current owners, are hoping to realise their dream by purchasing a majority stake in the Merseyside club.
ShareLiverpoolFC is planning to raise £10m by selling shares at £500 on a one-person-one-share basis, and an additional £140m through the sale of additional loan stock to the fans. Once the £150m has been raised, the support groups plan to use these funds to bid for a majority stake in the club in order to gain control, and seek a further £100m from a commercial partner.
The ambitious fans plan to exchange the remaining debt £100m by making it a convertible loan stock in the club, which the banks would buy over a 20-year period.
ShareLiverpoolFC and Spirit of Shankly were formed 18 months ago after the supporters grew dissatisfied with Hicks and Gillett's running of the club.
No comments:
Post a Comment