da betsson: The futures of Pepe Reina, Fernando Torres and Steven Gerrard remain in doubt with deeply unpopular Liverpool co-owner Tom Hicks attempting to gain sole control over the club and force through a £280m refinancing package with the Blackstone/GSO Group. If the situation at the club looks bad now, it could get even worse if Hicks succeeds with his plan.
da mrbet: In a desperate attempt to hang onto the club, Hicks is attempting to offset the club’s assets against a new loan from Blackstone, whose chairman, Steve Schwarzman, is a personal friend of Hicks. Co-owner George Gillett is reportedly struggling to pay back the £75m loan secured against his 50% stake in the club and Hicks will attempt to buy-out his partner with a loan from Blackstone.
Hicks revealed his devastating plans at a meeting with the club’s board, with chairman Martin Broughton, chief executive Christian Purslow, director Ian Ayre and finance director Philip Nash, all present. The American duo have been given an October 6 deadline to repay the £237m debt they owe to RBS or find a buyer for the club. A buyer looks increasingly unlikely and if the Texan manages to pull off the refinancing deal it will give him another two years in control of the club.
The prospect of having Hicks in charge for another two years will horrify Reds fans who have seen their club piled with debt during the Americans’ three-and-a-half years at the club. The Liverpool board will attempt to block any such move and are seeking legal advice. However they may not have the power to veto the proposal.
Fans have voiced their disapproval over the announcement by starting an e-mail campaign aimed at the Blackstone/GSO Group in an attempt to convince the investors not to provide Hicks with the funds he needs. James McKenna, spokesman for Spirit of Shankly, the Liverpool Supporters’ Union, believes fans will protest should Hicks get his way.
“This is the latest in an on-going soap opera but we don’t want either Hicks or Gillett involved in the club and these plans will be met with the fiercest of protests,” he said.
“These reports are a worry.”
It is believed Roy Hodgson convinced his star players, Torres and Gerrard, to stay over the summer with the promise of new owners who would bring fresh investment and start work on the club’s new stadium. In truth, this short term measure will add more debt onto the club and leave Hodgson without the funds to transform his squad after last season’s dismal seventh placed finish. It would leave the club in limbo and their star players looking for a move away from Anfield.
The proposed deal is the worst case scenario for Liverpool ahead of the RBS deadline. With Hicks refusing to lower his asking price he is prepared to bide his time until he can sell at the price he wants. Liverpool fans will hope a saviour emerges to rescue their club with an 11th hour bid. If Hicks remains in charge the immediate future certainly seems to be a bleak one for The Reds.
A source close to the deal told ESPN Soccernet:
“If Hicks gets his way, it would be a catastrophe for Liverpool. Besides more debt, higher interest payments and no stadium, it won’t be a question of selling players but whether the players will want to go.
“The players were told by the board in the summer that there would be new owners and a new stadium, and that they would not be sold.
“If the top players can see what is happening, and if it happens, they will want to go, rather than the club wanting to sell them.”
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