Investment group Blackstone has pulled out of talks to refinance loans taken out by co-owner Tom Hicks to retain control of Liverpool, according to The Guardian.
Weekend reports had claimed the American intended to cling to power by securing the cash to repay the £237 million owed to the Royal Bank of Scotland before the mid-October deadline. Without the money, Hicks and business partner George Gillett would be forced to relinquish their spots at the Anfield helm to the organisation.
Negotiations about a £280m, two-year package with GSO Capital Partners - the debt restructuring arm of the private equity group - which would have seen Hicks take sole charge had been understood to be close to reaching conclusion. However, GSO has now walked away from the Texan millionaire, with their withdrawal rumoured to be motivated by fan group protests.
Hicks and Gillett had put Liverpool up for sale in April after failing to find the funds to meet RBS' requirements. Reported interest from Kenny Huang and Rhone Capital has not led to a change of stewardship and now the Liverpool board is believed to be ready to throw out any proposal from Hicks even if it led to an investment in player transfers and stadium plans.
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