i'm a shadowboxer, baby (youth_depraved) wrote in ontd_football,
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Liverpool FC board plans to block Hicks and Gillette's refinance attempts



Liverpool's board of directors will block any plans by owners George Gillett and Tom Hicks to use club assets to refinance their loans.

Chairman Martin Broughton, managing director Christian Purslow and commercial director Ian Ayre are understood to be planning to legally oppose the Americans' bid to maintain their grip on the club by using players and guaranteed TV revenues to pay off existing debts.

Anfield and the club's Melwood training ground have also been mooted in the duo's remortgaging bid ahead of the October 6 deadline set by the Royal Bank of Scotland to repay their existing loan of £237million in addition to £60million penalty fees incurred since April.

The board rejected a proposal by Gillett and Hicks to use players and the stadium as collateral in their bid to secure a £290million investment several months ago, with a vote of 3-2.

Discussion with the Premier League have ensured that Liverpool will not face a nine-point deduction should the bank seize control, with both the League and UEFA receiving assurances from the club that they can fulfil all their fixtures for the current season.

However, should RBS take over the club next month they can fully expect to face a court date with Gillett and Hicks, who will legally challenge any plans by the high street giant to sell the club for any amount lower than their own valuation of between £600million and £800million.

SOURCE: HERE

IMO, coming from an American's perspective, I think it's fucked up for them to do this to Liverpool. I don't think they should have ever had ownership of this team in the first place. That being said, I want Liverpool to take this news and just dominate the Premier League. Hopefully they don't allow off the pitch drama ruin their season :/

Tags: club: liverpool fc, oh god please no, oh no they didn't!, oic, what kind of fuckery...
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  • Sunday, Sunday

  • Free for Friday

    News Mbappe's signing is imminent Real Madrid tying players down in…

  • Sunday

    Olympic football coverage is here. News Shock emails that could prove Manchester City…