A total of £233.996m is owed to RBS, in addition to an inter-company loan of £144.441m owed to “Kop Cayman”; a company owned by Gillett and Hicks based in the Cayman Island for tax reasons; a company that have loaned Liverpool FC £144.441m at an interest rate of 10%. This is the “own money” that Gillett and Hicks claim to have put into the club. In reality, they’re just charging the club 10% interest for lending that money through an offshore limited liability company that they aren’t even personally liable for – Liverpool FC are.
Liverpool FC are not paying the interest off on that £144.4m however. It is being charged as a “compound interest”, meaning the interest isn’t paid, but is instead “rolled up” to the grand total. For example, this year (if I’ve got this right):
Just read this & its the same as an article on another reds site.
The only problem I have with these figures is this £144m or £100m which we were told at the time reduced the debt to £237m. RBS accepted this so the yanks could extend their overdraft til July this year, however they would never have allowed further debt to pay off this debt. It just doesn't happen.
This money in the Caymans account is probably the yanks own money, if so when it comes to selling the club the interest will be wiped out by the yanks cos they would be charging themselves. So i wouldn't take this statement too seriuosly.
