New Liverpool managing director Christian Purslow will open talks with the Royal Bank of Scotland over refinancing the owners’ £350 million loan in the coming days, with a view to securing a new deal before the July 24 deadline reports the Telegraph.The story goes on to say that “contrary to reports on Tuesday, owners George Gillett and Tom Hicks have not finalised the terms of the refinancing yet, though there is an expectation that an agreement will be reached.”
New managing director Purslow, who was appointed on Monday, has a finance and private equity background and “the RBS deal is among his priorities,” reports the story.
The article also says that “RBS will ask Gillett and Hicks to provide additional security on top of the £185 million in personal guarantees and cash they provided in January 2008. The owners are working hard to try to provide it, with Gillett selling the Montreal Canadiens and Hicks seeking a buyer for the Texas Rangers. Their willingness to cash in on US sports assets underlines their belief that Liverpool remains their most profitable sporting asset."
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