LFC fans plan protest against owners tomorrow

Liverpool supporters group 'The Spirit of Shankly' will stage a protest march against the owners Tom Hicks and George Gillett tomorrow before the Premiership clash against Manchester United. The march will start at 12 noon from the Liverpool Supporters Club on Lower Breck Road and will finish outside the Kop stand.

"There is a lot of anger and people want their feelings known - Hicks and Gillett are not welcome at the club," spokesman James McKenna told BBC Sport.

The 'SOS' says 4,000 fans turned out for a similar protest in September 2008, before Liverpool beat Manchester United 2-1 at Anfield and are calling on all Reds fans to show similar support tomorrow. The group are marching to express their anger at the clubs owners inability to invest within the club and are also apposed to the debt that the club have been leveled with.

"We hope a couple of thousand fans will turn out for the protest," added the spokesperson.

The groups website has also posted an interview with George Gillett given at the Liverpool FC Academy prior to the Hull City game on the 26th September, which can be heard here.

Gillett's 50% sale in the final stages says Saudi Prince

Saudi Prince Faisal bin Fahd bin Abdullah believes talks over his F6 company buying a major stake in Liverpool are nearing a conclusion.

Liverpool co-owner George Gillett arrived in Riyadh on Tuesday night to continue talks with the prince. The Americans visit is mainly concerned with setting up LFC branded academies in the Middle East and north Africa, however it also believed he will also continue discussions over the sale of part, or all of Gillett's 50 per cent holding in the club.

"Our negotiations to buy shares in Liverpool are ongoing, meetings are taking place and we might be in the final stages in the coming days," said the prince on Wednesday, reports Sky Sports.

The prince has openly admitted that investment in the Reds is firmly in his agenda, but has expressed concern over the clubs debt.

Reds co-owner Tom Hicks appears to have paved the way for Gillett to sell up. The Mirror interviewed 'a source' close to Texan, who confirmed:

“Tom would be open to considering a partnership with someone willing to buy George Gillett’s shares."

“It is still the case that the sale of any shares in Liverpool FC requires the other partner’s consent."added the source.

It is also thought that if Gillett sells, Hicks must be given the right to buy two per cent of his partner's shares, making him the major share holder of the club.

Hicks & Gillett deny sale of club is imminent

Liverpool Football Clubs joint owners George Gillett and Tom Hicks have responded to recent reports about the Club's ownership. Press speculation over the weekend reported Saudi prince, Faisal bin Fahad bin Abdullah al-Saud was on the verge of buying into the Anfield club after his Saudi Arabian sports investment company: 'F6', confirmed it had reached an agreement with Liverpool to establish a number of football academies in the region.

The prince, who attended Liverpool's demolition of Hull City at the weekend reiterated yesterday that he was close to purchasing a 50 per cent stake in the club. Speaking to Middle Eastern newspaper 'Al Riyadh', he said:

"The deal will be concluded soon and its value will be between £200m and £350m," said the prince.

He added: "If we finalise the deal, it will be something marvellous because Liverpool is one of the best and most famous clubs in England and the whole world," reports Sky News.

The Telegraph reports the prince and Gillett will hold further talks when the American visits the Middle East in October.

However a spokesperson for George Gillett and Tom Hicks, via the clubs official site, said:

"The owners have jointly retained Bank of America Merrill Lynch and Rothschild to evaluate the possibility of new investors injecting equity into LFC.

"However, the process is at an early stage, there is no agreement with any party and reports to the contrary are wholly inaccurate."

Hicks says stadium will be built once the global recession eases

Liverpool co-owner Tom Hicks insists Liverpool's planned new stadium will be built once the global financial market settle down. The Reds new stadium has stalled since the American owners declared "The shovel needs to be in the ground in the next 60 days," in Feb 2007, but Hicks still claims the stadium is still in his plans:

"When we get to the point where the global market settles down and we bring pieces together to finance the stadium (then we can again start building)," said Hicks on Sky Sports.

"It's certainly not anything we have changed our mind on. I don't know about the dates because of the global financial markets, but I know the markets will settle down and get better.

"I'm an optimist. I've been through lots of cycles, although none as severe as this in my lifetime. It's a dynamic world."

He continued: "We have spent a lot of money and we have a fully designed stadium. We have every permit in place, all the city councils' approvals, the judicial reviews on a national basis - everything is done.

"That's a great asset to have just to wait for the markets to open up and be able to do anything. Certainly it will happen."

"We think that the stadium is one of the biggest opportunities for Liverpool to be truly one of the top clubs in the world," he said.

"Liverpool was a famous club around many parts of the world before Manchester United became strong in the last 20 years, and that's a heritage we want to build on and try to get to be as strong as possible. The club's in the best shape in many, many years.

"Rafa (Benitez) has put together an outstanding group of players over the last two or three years. We can always have more, but I think we're doing very well and I think we will have great success on the pitch this year.

"Transactions like this week's new sponsorship agreement can only help to give us the resources to compete right there with the other big guys in the world."

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.

Hicks says funds from new shirt deal will be given to Benitez

Liverpool co-owner Tom Hicks has promised to free up funds from the lucrative shirt sponsorship deal with Standard Chartered bank for Rafa Benítez to strengthen the squad and intends to reduce debts at the club. The Texan also revealed Liverpool expect to bring in over £26 million on sponsorship revenue in the next year, including a new deal with Carlsberg, the current shirt sponsors.

"You have to look at cash flow rather than accounting and we intend to operate Liverpool where it has a very strong positive cash flow so we have the resources to be as competitive as possible on the pitch – that's our commitment," Hicks said in the Guardian.

"We had strong, positive cash flows last year. Our debts levels are at a very comfortable level and we are going to continue bringing it down. Our goal is to have less debt than any of the top clubs and that's a commitment we have made and will continue to make."

"It's not sustainable at City, they won't continue to invest like that as it doesn't make good economic sense," Hicks said. "Hopefully they will make the improvements they need to make and then run it more like a business. The smart clubs operate for the long term and you have to look at who have had success for many years."

Hicks also believes Liverpool's new shirt sponsorship agreement with Standard Chartered will unlock new revenue for the club.

"We are seeing for the first time the real power of the brand and the power of a well-managed club," Hicks said. "I feel very good about the entire club. The total sponsorship contracts should probably bring in £25m-£26m of incremental revenue a year. It's a huge development for the club."

"It's not just the £21m that we will develop from the new sponsorship agreement with Standard Chartered because we will have an additional £2m or £3m for the Infinity part of the deal with Standard Chartered," Hicks said.

"We have an existing contract with Carlsberg until the end of the season. Between now and the end of the season we will finalise new arrangements where we will retain the Carlsberg special sponsorship packages and pour Carlsberg products in the stadium. They will be one of our key sponsors, just not on our shirts."

Hicks also intends to hand over funds from the deal to manager Rafael Benítez, he said:

"Knowing Benítez I suspect he's got his eye on part of it," Hicks said.

"As we build our revenues it gives ability to be more competitive on the pitch and, this is a very important one, but we think we have other opportunities in the future as well."

"Everybody involved with Liverpool wants to win the Premier League, it's been too many years and it's our goal," Hicks said.

"I've been in sport for 15 years and sometimes you have to do things to get the players' attention to wake up and really get focused.

"Maybe we have learned the lesson [from the losses], certainly the way we played Saturday [beating Burnley 4-0] showed that we have. We have stability and the nucleus of the team."

"Everything is very stable. I think the management situation at the club has dramatically improved," Hicks said. "There is a real sense of optimism."

Hicks claims he is still committed to building new stadium

Liverpool co-owner Tom Hicks claims he remains committed to building a new stadium for the club once "the financial market opens back up". Hicks who will pocket £450m through the imminent sale of his baseball franchise Texas Rangers insists that that money cannot be used to fund a new Liverpool stadium.

“Rangers and Liverpool are totally separate investments, so there is no connection,” said Hicks in the Daily Post.

“I do plan to keep a significant participation in the Rangers. We are close to winning our division. I want to finish what we have started.

“Liverpool will obtain stadium financing when the financial market opens back up. We have all of our permits and will be ready when the market is ready.”

“Christian Purslow is working hard. Liverpool’s new management focus is producing great new commercial results that will become known in due time.”

Liverpool agree new refinance deal with RBS and Wachovia Bank

Liverpool football clubs joint owners have agreed a new refinance loan with Royal Bank of Scotland and Wachovia. The details of the new deal which is believed to be for another year, means Tom Hicks and George Gillett repay £60 million of the outstanding loans that will “reduce the debt to £230 million,” reports the Telegraph. £40 million is expected to be repaid this week, with the remaining £20 million due later in the year.

The original loan taken out by the owners in January of last year was for £350 million, however “Sources with knowledge of the deal” say that “figure has already been reduced to £290 million since last summer, and will come down by a further £60 million as a condition of the new deal.”

Club managing director Christian Purslow is understood to have negotiated the loan with the banks, who insisted on the £60 million repayment “as a condition of extending a loan facility.” By paying off £120 million of the outstanding debt, the Americans will reduce their annual interest payments, but it is possible the banks may have demanded a higher rate to extend their line of credit.

Liverpool’s owners unable to meet Friday’s loan deadline

Liverpool Football Club’s American owners, Tom Hicks and George Gillett Jr. were unable to secure an extension to their £350 million loan before Friday night’s deadline.

The co-owners, had reached an agreement in principle two months ago with the Royal Bank of Scotland (RBS) and Wachovia about refinancing their existing loans. However Friday night’s deadline passed with Hicks failing to provide the guarantee, “a sum believed to be in the region of £70 million, that Wachovia had requested,” claims The Times.

“That deadline has been described by sources as “fluid”, with negotiations set to continue into next week,” adds the story.

Gillett has raised capital through the sale of his ice hockey franchise the Montreal Canadiens, However the story suggests Hicks who’s “sporting and business empire has been hit hard by the global credit crunch, has been forced to request extra time in his attempt to satisfy Wachovia.” However the American businessman “is said to be optimistic that a solution will be found.”

Uncertainty over the ownership of the club is bound to continue, even if Hicks and Gillett succeed in securing another short-term loan.


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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.

RBS Bank write letter to LFC supporters

"The Royal Bank of Scotland has taken the unprecedented step of writing to Liverpool Football Club’s supporters to justify its continuing financial support of the club’s American co-owners" reports the Post.

The bank has been inundated with emails from Liverpool fans requesting the bank to withdraw its financial assistance to Tom Hicks and George Gillett.

“The sending of the email is virtual confirmation the loan will be refinanced.” Says the article.

The message from RBS says:

Thank you for your email expressing concern about RBS' banking arrangements with Liverpool FC and its current owners. We are aware of the strength of feeling of a number of fans on this matter and have corresponded with many during the course of the past year or so.

Perhaps I can start by putting RBS' relationship with Liverpool FC in context. RBS is the main banker to the Club including all of its operating accounts, cash management, online banking, automated payments, and credit card processing to facilitate ticket sales and retail merchandising. We also provide a credit facility to support the Club's working capital requirements and a letter of credit facility to facilitate the purchase of players from non-Premiership Clubs, along with a loan facility for design, planning and other preparatory work for the proposed new stadium at Stanley Park. We have set out to establish a long term relationship with the Club, and we look forward to this continuing for many years to come.

We also lent money to the Club's parent, Kop Football Limited, so that it could repay debt which was on the balance sheet of the Club at the time of its acquisition by George Gillett and Tom Hicks. This is the only portion of Kop Football's bank debt for which the Club is legally responsible. We took great care when making our original loan in early 2007 and when refinancing it last January to distinguish between obligations of the Club, primarily those outlined above, and obligations of its parent company, the latter being secured by personal guarantees and collateral from the owners and a pledge of the shares they own in the Club.

As a result the Club does not suffer the burden of debt implied by a lot of the recent press reports and, in our view and that of the executive management of the Club, it is financially healthy and able to service comfortably its debt obligations from cash flow generated by its playing and commercial activities. It is in our commercial interest to support the Club in the manner described above so that it can continue to perform successfully on and off the pitch.

As far as the Government is concerned, they have been very clear that they do not wish to exercise day to day control over RBS or make commercial decisions for us. Indeed they set up an independent body, UKFI, to oversee the Government's shareholding in RBS, so matters such as strategy and governance can be agreed, while they leave commercially related matters to us.

RBS attaches a great deal of value to being associated with Liverpool FC. I hope my comments reassure you as to the strength and depth of our relationship with the Club and that we will endeavour to contribute to its long term health and success.

Kind Regards,
Roger Lowry, Head of Group Public Affairs, Royal Bank of Scotland Group

Spokesman for fans’ group ‘Spirit of Shankly’, James McKenna said he was “surprised and disappointed.” Speaking to the paper last night, he said: “The fans’ relationship with RBS is not great because of their support for Hicks and Gillett. I’m disappointed that the bank doesn’t feel we should have any input or say on this, even though it is tax-payers’ money that has bailed them out. The main value for RBS must be financial, in terms of the interest payments they receive.”

Reds close to re-financing bank deal

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."

Reds receive Financial boost as Gillett sells NHL team

Liverpool co-owner George Gillett has moved to strengthen his financial position by agreeing a £330 million deal to sell Montreal Canadiens, his National Hockey League franchise to brewing giants Molson reports the Telegraph.

The 60-year-old, who took control of the Canadiens in 2001, has agreed to sell his 80.1% stake in the ice hockey team, together with the Bell Centre Arena where they play and the Gillett Entertainment Group, which promotes sport and music. The Canadiens buy out has yet to be approved by the NHL’s board of governors, could take up to six weeks to be approved, but it is not expected to be blocked.

NHL commissioner Gary Bettman said: “I think to the extent that they [Gillett] have been able to find people who are obviously passionate about the game and structure a transaction that makes sense for everybody, that’s a real plus for the franchise.”

Both Gillett and Hicks have been actively seeking buyers for their American sports franchises in recent months in order to raise funds to consolidate their position at Liverpool. Gillett has struck a deal with brewing giants Molson for the Canadiens, Hicks continues to search for a buyer for his Texas Rangers baseball franchise.

The Molson deal will no doubt strengthen the pairs position in refinance their £350 million loan with the Royal Bank of Scotland and Wachovia on July 24, but could also give Rafa Benitz the extra spending power to strengthen his squad this summer. It may also stave off the pack of clubs intent on picking off players because of the clubs so called financial hardship.

Liverpool MPs launch bid to topple LFC’s owners

Liverpool City MPs have launched a fresh bid to topple Liverpool FC’s American owners reports the Echo.

The article goes on to say MPs “want the government to pull the plug on a crucial £350m loan to Tom Hicks and George Gillett – by taking advantage of the part-nationalisation of the Royal Bank of Scotland. MPs said the move, prompted by fury over the apparent collapse of plans for a new stadium, would force the Americans to sell. A parliamentary motion was tabled by Walton MP Peter Kilfoyle calling on the government to “ensure the Royal Bank of Scotland does not renew that credit facility at the end of its current term”. Backed by West Derby MP Bob Wareing the motion was first tabled last autumn. The new attempted “coup” comes at a crucial time – because the Liverpool loan expires on July 24. Mr Kilfoyle said: “My concern is for the regeneration that is planned for the area around the new stadium which will not go ahead unless it is built. “At the current time there are a lot of conflicting demands for that money. “That means it could be lost altogether because the stadium seems to be as far away as ever.” Mr Kilfoyle accepted RBS was still an “autonomous” organisation. But he added: “The government has a great deal of influence, because it is the majority shareholder.” Hicks and Gillett announced a one-year delay to the Stanley Park scheme last October. Since then, the Anfield crisis has worsened with the revelation of a £42.6m loss, mainly because of interest payments on debts taken on to buy the club.”

Quebecor join race to purchase Gillett’s hockey team

Following on from yesterdays story, media conglomerate Quebecor has joined the Molson family in the race to purchase George Gillett’s Montreal Canadiens, as well as its Bell Arena home claims the Telegraph. The story says the “price that could rise as high as £300million, allowing Gillett to secure both his position at Liverpool and the club's immediate financial future.”

The article goes on to say: “Both Gillett and his business partner, Tom Hicks, have admitted in recent weeks they are looking for "minority" investors in their sporting empires and it is believed both are prepared to countenance selling their sport assets in the United States to maintain control of Liverpool.”

Hicks and Gillett are said to be “close to securing a six-month extension on the £350 million loan taken out last January. It is believed any such deal would likely be dependent on both owners putting more of their own capital into the club.”

The story also states Rafael Benitez “is not likely to be handed a significant boost in the transfer market should Gillett sell the Canadiens.”

Gillett receives bid for Montreal Canadiens

Liverpool FC owner George Gillett has received a takeover bid from Quebec’s Molson family for the National Hockey League’s Montreal Canadiens, reports today’s Echo. Gillett bought the Canadiens from brewer Molson Inc. in 2001 and it is believed they are seeking to regain control of the 24-time Stanley Cup champions.

Geoff Molson, a 38-year-old director of the Canadiens and Molson Coors Brewing Co., is leading the investor group, which also includes brothers Andrew and Justin. The family said in a statement today:

“We have assembled a very solid and credible group of investors and financial institutions as part of our offer,” Geoff Molson said in the statement. “We think our offer has all the ingredients to be well received by the potential seller and the National Hockey League.”
Molson said he looks forward to meeting with Gillett, though he declined to comment further on the offer, citing a confidentiality agreement.

The Mirror is also running the story and values the hockey team at “£200m”. It also claims Tom Hicks is “close to selling half his stake in the Texas Rangers baseball franchise” The Mirror article headed under the screaming headline: “Liverpool secure loan to refinance club and top players look safe” declares: “Liverpool's owners have secured a £350million loan to refinance the club, after pledging more funds for Anfield.” However the loan has not yet been re-financed and the same article admits this later by saying: “the pair have been told that the refinancing with the Royal Bank of Scotland and American bank Wachoiva is a formality.” The so called new deal will allow: “manager Rafa Benitez to resist a Spanish armada trying to tempt three of his top stars away from Anfield,” the story claims.

Liverpool auditors issue warning to Hicks and Gillett

Liverpool's owners Tom Hicks and George Gillett have been warned by their auditors that failure to refinance a £350 million loan due next month will threaten the club’s ability to operate as a going concern. All the national newspapers are running this deeply worrying story, with terrifying headlines screaming of financial ruin.

The club’s latest accounts, which were released by Companies House yesterday, revealed that Liverpool paid £36.5 million in interest on their debts in the financial year ending July 31, 2008. Despite the announcement of a record turnover of £159.1 million and a pre-tax profit of £30.2 million, the club’s net debt — not including that of the holding company — almost doubled from £43.9 million to £86 million. Kop Football (Holdings) Ltd made a pre-tax loss of £42.6 million, with its net debt rising to £299.5 million.

In the accounts submitted for Kop Football (Holdings) Ltd, KPMG writes: “The current economic conditions have had a significant impact upon world credit markets and, accordingly, raising finance in this environment is challenging. Whilst the directors believe the going concern basis is appropriate, the fact that facilities are not currently in place to fund all projected cash requirements over the next 12 months indicates the existence of a material uncertainty, which may cast significant doubt upon the group’s ability to continue as a going concern, and it may therefore be unable to realise assets and discharge liabilities in the ordinary course of business. Nevertheless, after making full inquiries and considering the uncertainties described above, the directors have a reasonable expectation that the group will secure adequate resources to enable the group to continue in operational existence for the foreseeable future.”

Today’s Times claims: “one senior Liverpool figure expressed disappointment at KPMG’s message, calling it “unduly alarmist”, while another said that it was a standard statement in situations where a company is in the process of negotiating a refinancing package. He added that, while Kop, the investment vehicle, may face uncertainty, the club are afforded some protection by the banks.” However it also goes on to say: “There is an acceptance within Anfield that the club are not generating enough money to cover the interest payments of Kop Football (Holdings) Ltd, the club’s holding company.” Meanwhile Tom Hicks and George Gillett Jr, continue to look for outside investment and, in the more immediate term, to renegotiate their existing £350 million loan. The Americans have until July 24 to refinance their credit deals with Royal Bank of Scotland (RBS) and Wachovia.

The Accounts also go on to reveal the owners plans for the new stadium, emphasising that securing financing for the development of a new stadium is central to their strategy for future growth. Pre-construction work on the new Stanley Park site was halted indefinitely last September, with the owners claiming "unfavourable conditions in the global financial market" the cause. In the accounts, however, they say that opening is “delayed until 2012” and that a revised planning application, with a view to raising the capacity from 60,000 to 73,000, will be submitted imminently. The Tmes says: "Hicks, who is bullish about the club’s future and his prospects of remaining at the helm, is unconcerned by the figures in the accounts. He remains highly optimistic that a refinancing deal will be agreed in the coming weeks and that outside investment will be secured after that.” However the article goes on to warn: “the search for financial backing began almost as soon as they bought the club in February 2007 and, more than two years on, the new stadium remains a pipe dream."

Although deeply worrying, the warning from the club auditors is based upon the club being unable to re-finance its loan, however realistically this is unlikely to happen. One thing is certain; the warning from the auditors should not be ignored. The club needs to restructure its financial position soon and the owners need to act in a responsible manner. Despite all this, Rafael Benítez has been assured that the owners will provide funds for new players; however the silence in the transfer market is deafening. We did not secure Gareth Barry’s services, despite claims Liverpool launched a late bid for the midfielder. If the club is unable to compete in the transfer market this summer, any momentum they have gained in the Premiership this past season could be lost. With other sides flexing their financial mite, the Reds could lose out on more 'key' signings Benitez has lined up. If he is to receive funds, where will it come from? Hicks and Gillett personally? Or will they have to wait until the re-finance package is in place? With deadline set for July 24, Liverpool could end up scrabbling around bargain basements looking for unwanted items.

Hicks and Gillett refinancing deal may give Rafa extra transfer money

Liverpool owners Tom Hicks and George Gillett are on the verge of announcing a £350million refinancing deal says today’s Sunday Mirror. It claims: “accountants from the Royal Bank of Scotland and Wells Fargo are currently examining Liverpool's financial figures with a view to agreeing a loan package that will ease the pressure on the two Americans. The move could also bring an improved summer transfer budget for manager Rafa Benitez, who has made Carlos Tevez his No.1 target, but is unable to meet the £25.5m price being asked by the Argentine's owners. The deal will hinge on Hicks and Gillett pouring more of their own personal finance into Anfield - and the pair are looking to raise funds by selling off some of their other sporting interests in the United States,” says the article. “Hicks is ready to sell his majority stake in baseball club Texas Rangers while Gillett is searching for a buyer for the ice hockey outfit Montreal Canadiens to gen-eratcash. But with Liverpool set to announce record turnover and increased profits of almost £40m this week, there is increased confidence that the club can easily service a new loan agreement. An insider said: "Despite claims to the contrary, both owners have spent about £80m of their own money on Liverpool over the past two years.”

This news will come as no surprise to regular readers of LFC Alert as a refinancing deal was reported on this site weeks ago. This story however speculates the re-financing deal ‘could’ bring in extra money for Rafa this summer.

Hicks and Gillett will re-finance LFC loan

The former Football League chairman Keith Harris, believes that Liverpool co-owners Tom Hicks and George Gillett are likely to succeed in refinancing their £350 million loan from RBS and Wachovia banks before the July deadline claims today’s Telegraph. Harris, speaking at the Soccerex forum at Wembley Stadium, said. "I think there will be a negotiated settlement,"

"The only way banks can make money is to start lending again. The two banks RBS and Wachovia, have said they don't want to be involved in this kind of business and RBS are quite stretched.

Harris believes Premier League clubs have suffered a slump in value of up to 20 per cent since the economic crisis struck.

Harris said: "There is some renewed interest now. There's been a shocking fallow period but just like you are seeing investors putting money into property companies and banks, people are investing again in football clubs.

Liverpool deny takeover talks...or do they?

Today’s Telegraph is claiming that the Liverpool owners are not in discussion with Indian billionaire Grandhi Mallikarjun Rao’s GMR group over either investing in the club or buying it. The article details Liverpool’s current financial situation, but does not carry one single quote to support the headline, simply stating “sources close to Tom Hicks” were denying any takeover.