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Liverpool FC: Refinancing talks with bank set to drag on

22 July 2009 | Posted in Notes & Insights | By Michael Long | Contact the author

Tom Hicks and George Gillett, the owners of English Premier League club Liverpool, are unlikely to agree refinancing terms with RBS before this Friday's deadline.

The two American businessmen have made regular appearances on sports pages on both sides of the Atlantic in recent weeks. Gillett has agreed to sell the Montreal Canadiens ice hockey franchise for more than US$500 million. Hicks, meanwhile, has dissolved Hicks Sports Marketing Group as he looks to sell off one of his sport franchises.

The Liverpool refinancing deal, meanwhile, continues to drag on. 'The two parties have been in talks for several months and both sides have expressed confidence that a deal will be done. It may not be concluded by the end of this week however, despite that being the date for the loan's expiry given in the most recent accounts for the club's holding company,' reports the Daily Telegraph newspaper.

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