Thursday, 17 September 2009

Hicks looking for 25% investor in LFC

Liverpool co-owner Tom Hicks has instructed the investment bank Merrill Lynch to find an investor to take a 25 per cent stake in the club according to the Telegraph.

The article claims: "sources in the City have revealed he has tasked Merrill Lynch, the recently-acquired investment arm of Bank of America, with selling shares worth a total of 25 per cent." The story goes on to state: "It is not yet known whether they would come from his holding, that of his partner, the issuing of new shares or a combination of the three. It is thought Hicks has set an asking price of around £100m for a minority stake in the club."

Despite the owners continually declaring their long term intentions for the football club or "franchise" as it increasingly become known as, both have attempted to sell all, or part, of their shares in recent years, Hicks through Merrill Lynch and Gillett through Rothschilds.

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