Monday, September 20, 2010

Finally some good news for Liverpool, Hicks refinancing plans fail to materialize

Liverpool look no closer to resolving their ownership issues after the Blackstone investment group ruled out financially backing co-owner Tom Hicks with a full buy out.

Hicks had been linked in a Sunday newspaper to be close to arranging a £280million deal to take partner George Gillett's stake in the Merseyside club and take full charge for the next two years.

It is understood that the Blackstone group held talks with Hicks several weeks ago to allow him to pay off the £237million debt that was owed to the Royal Bank of Scotland in mid-October.

However, it would appear that they have opted against any deal to leave Hicks, who placed the club up for sale alongside Gillett in April this year, no closer to arranging a sale.

The decision is likely to come as a relief to many of the club's supporters, who have lodged fierce protests over their American owners, with the Texan in particular, about the way they have run the club since buying it in 2007.

Liverpool have seen several degrees of interest fall by the wayside in recent months, with Chinese businessman Kenny Huang'sconsortium and one run by Syrian tycoon Yahya Kirdi both ruling out takeovers.

With Martin Broughton installed as a new chairman and go-between for negotiations between potential buyers, a deal to sell the club was thought to be under increasing importance to the future of the club.

However, with no takeover happening in time for the end of the August transfer window, manager Roy Hodgson has had little finances to play with.

Hicks in particular is still desperate to maximise a profit and sell the club for around £600million, but it is thought that he has been advised that a figure rising above £400million is an unlikely prospect.

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