Thursday, 23 July 2009

Hicks and Gillett bank deadline may be extended

Negotiations between Liverpool owners Tom Hicks and George Gillett and RBS over refinancing a £350 million loan may extend beyond Friday's deadline claims the Telegraph.

“The two parties have been in talks for several months and both sides have expressed confidence that a deal will be done.” But the story suggests that any deal may not be concluded by Friday despite that being the date of the loans expiry.

“The owners have thus far committed £185 million of personal guarantees and other collateral for the loan,” of which the football club are liable for £105 million. The remaining £245 million lies with the holding company, Kop Football Ltd, and secured by Hicks and Gillett.

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