Local Merseyside MP, Peter Kilfoyle, has tabled a motion in the House of Parliament to prevent RBS extending the loan for Hicks and Gillett.
The club’s owners need to refinance the £350 million loan they are using to prop up Liverpool FC with. We reported some weeks back the dire state of Liverpool’s finances, in which the club spends more on interest payments than on new players.
The Royal Bank of Scotland is 97% owned by the Government, and therefore the taxpayer, and the motion calls for the Government to use its significant influence to prevent a renegotiation.
The MP 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.”
“The government has a great deal of influence, because it is the majority shareholder.”
We have got enough problems at the club without a bluenose politician sticking his oar in and stirring the efluent.
Dear Bill,
You may not know, but SOS alongside the most vast majority of fans did send their local MPs motions and to RBS asking them to deny the loan refinancing. This would force the yanks to sell their shares and gtfo of our home. You seem to not know what’s going on much, so please I advise you to check out Liverpool fan forums, to know more about what people want, instead of bashing a guy who is trying to help us out.
regards,
So is this what the USA has to look forward to, now that we seem to be going the way of bank nationalization?
Well at least the issue is being dealt with, hopefully it’ll be the outcome all us Liverpool fans want.