George Gillett and Tom Hicks' ownership of Liverpool will end next month after the Royal Bank of Scotland placed the club in its Global Restructuring Group.
The high street giant are expected to seize control of the club on 6 October when their refinancing loan agreement with the Americans expires.
Plans by Gillett and Hicks to refinance were rejected in June whilst chairman Martin Broughton and the Anfield board have sought legal advice to block any plans by the duo to use club assets to remortgage their debts.
RBS are not expected to place Liverpool's holding companies Kop Football and Kop Football Holdings as well as Football UK Ltd, Gillett's loan-security outfit, into administration due to the nine-point penalty the Premier League would enforce.
Stephen Schechter, experienced football financier and chief executive of London-based Schechter & Co, said: "The roulette wheel stops spinning on October 6.
"If you were a prospective buyer, I would call RBS and say I’m interested in buying your loan.
"I would notify Gillett and Hicks that I’m the new lender and there will be no extensions, renewal or modifications of the loan: It is due and payable in full on October 6.
"What that does is stop the game."
The decision by RBS to shift Liverpool to its toxic assets division is the clearest indication yet that the pair's time as co-owners is in its final furlong, with the bank expected to sell the club at a significant knock-down price as early as possible.
However Gillett and Hicks are not prepared to walk away from Anfield with a whimper and are planning to fight any decision to wrestle control of the club from them in court.
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andy lee, newcastle around 1 year, 4 months ago