Liverpool FC board planning to block Gillett and Hicks refinance attempts

by Richard Buxton. Published Tue 07 Sep 2010 13:33, Last updated: 2010-09-07
Liverpool co-owners George Gillett and Tom Hicks
Liverpool co-owners George Gillett and Tom Hicks

Liverpool's board of directors will block any plans by owners George Gillett and Tom Hicks to use club assets to refinance their loans.

Chairman Martin Broughton, managing director Christian Purslow and commercial director Ian Ayre are understood to be planning to legally oppose the Americans' bid to maintain their grip on the club by using players and guaranteed TV revenues to pay off existing debts.

Anfield and the club's Melwood training ground have also been mooted in the duo's remortgaging bid ahead of the October 6 deadline set by the Royal Bank of Scotland to repay their existing loan of £237million in addition to £60million penalty fees incurred since April.

The board rejected a proposal by Gillett and Hicks to use players and the stadium as collateral in their bid to secure a £290million investment several months ago, with a vote of 3-2.

Discussion with the Premier League have ensured that Liverpool will not face a nine-point deduction should the bank seize control, with both the League and UEFA receiving assurances from the club that they can fulfil all their fixtures for the current season.

However, should RBS take over the club next month they can fully expect to face a court date with Gillett and Hicks, who will legally challenge any plans by the high street giant to sell the club for any amount lower than their own valuation of between £600million and £800million.

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Comments about Liverpool FC board planning to block Gillett and Hicks refinance attempts

The bank had too much patiance with these two an no one would think they are wrong to reposes the club.
m kop, Croatia around 1 year, 5 months ago
if they wanted the best for the club they should sell up! sell to kenny and get a whole new squad!
Sam, Wales around 1 year, 5 months ago
absolute jokes them 2 american pies. Laurel and hardy im sick of em. Absolute disgrace stick to baseball clubs and american football jokes
kal, south yorks around 1 year, 5 months ago
problem is if this turns into a protracted legal battle. Will be sure to effect LFC on the pitch and increase speculation about our collapse
LFC_Heaven, Cheshire around 1 year, 5 months ago
please somebody kill these two idiots american!
sai, singapore around 1 year, 5 months ago
sell liverpool to china
muhammad fidaus, malaysia around 1 year, 5 months ago
And if the bank sell the club hopefully kenny will be back to buy it.
Yeoh, Birmingham around 1 year, 5 months ago
These Yanks are one of the biggest cancers on this club we have ever had and deserve a taste of Yank medicine. Being shot.
Dan, Blackpool around 1 year, 5 months ago
Hicks cant afford a lawyer BUT Gillett is the real baddie - he is more sly - I think he has been the main culprit all along - never trust GG
jonesey, wales around 1 year, 5 months ago
the end will soon be here for the yanks there is a god up there
dave kennedy, liverpool around 1 year, 5 months ago
Can't come soon enough
dex, liverpool around 1 year, 5 months ago
its a shame they try this they will do everything to not sell the club
maikel, maastricht around 1 year, 5 months ago
Battle lines have been drawn, this is the last stand by the owners to keep hold of the club, lets hope they get put down and sent packing
Zahid, Leeds around 1 year, 5 months ago
Let's hope this is true and the board fulfill their responsibilities to the club and supporters. Come on RBS, take ownership and sell.
Oz Red Rich, Brisbane Australia around 1 year, 5 months ago
A legal challenge wud b gud!a neutral evaluator wud surely hav 2 b engaged.That wud proove the value 2 b far less than the YANKS r asking?
Dave, WestAus around 1 year, 5 months ago


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