Wednesday, April 14, 2010

£50 million summer transfer budget for Liverpool

The imminent appointment of Martin Broughton, the chairman of British Airways, as chairman of English soccer club Liverpool FC and an extended deadline from the club's banks are expected to pave the way for the sale of the Anfield team.

Tom Hicks and George Gillett, Liverpool's American owners, are standing down as co-chairmen of the club, while Royal Bank of Scotland and Wachovia are believed to have offered Hicks and Gillett a six-month extension on loans of around US$365 million.

'Confirmation of the sale process and the boardroom reshuffle will mark the beginning of the end of the Americans' tenure, though the sale of the club is unlikely to be swift,' reports the Daily Telegraph. 'Prospective buyers are expected to wait to begin negotiations until the end of the season, when Liverpool's participation in Europe and the fate of manager Rafael Benítez, who has again been linked with Juventus, is clearer.'

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