"LIVERPOOL FC’S American owners are set to be given another six months to find a new buyer for the club.
The Royal Bank of Scotland is expected to extend a deadline on Liverpool FC’s outstanding loan, taking the pressure off owners Tom Hicks and George Gillett – and avoiding the need for a rapid “fire” sale.
The move to ease the financial burden on the club’s two American owners will buy them valuable time in their bid to find a buyer, though is unlikely to please fans who want them out.
Liverpool has outstanding loans of £237m and its lenders, Royal Bank of Scotland (RBS) and American bank Wachovia, had demanded a £100m repayment by this July.
But the ECHO understands moves are under way at RBS to extend the deadline by up to six months, allowing the club time to seek new investment.
Weekend reports claimed that Premier League sponsor Barclays Bank was set to make a shock intervention and provide a refinancing package that would replace Liverpool’s current lenders and eventually lead to a sale of the Anfield club.
This is not the case.
But this week the Americans should officially confirm the club is up for sale and that they want to sell it all rather than keep a stake themselves.
The club has appointed Barclays Capital to lead the search for new investors to buy the business and fund the development of its proposed new stadium in Stanley Park.
The ECHO also revealed on Saturday that the club is set to appoint British Airways chairman Martin Broughton as an independent chairman.
His appointment – due to be sealed within days – and that of Barclays Capital are not linked.
But financial sources say any investor considering a move for Liverpool “would look favourably on having someone of his stature on board”.
And they said that an extension to the loan repayment deadline by RBS would remove the refinancing issue, therefore enabling the club to avoid a “fire sale” situation in its dealings with potential investors.
Hicks and Gillett bought Liverpool from majority shareholder David Moores in 2007 for £219m.
However, they incorporated their borrowings into the club’s debt and the interest costs on the loans post-credit crunch have crippled the club financially.
Barclays Capital declined to comment, as did Liverpool Football Club."
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