Liverpool will pay £3.5 million and an interest rate 4% above bank rate as the Royal Bank of Scotland and Wachovia will refinance Liverpool’s £350 million of debt.
This is according to The Guardian who have to spoken to sources close to the deal.
Liverpool fans group Spirit of Shankly have been giving advice on how Liverpool fans could complain to RBS (97% owned by the UK taxpayer) and to their political representatives, (Examples are here). However the banks feel the last thing they need to take control of right now is a football club.
The newspaper’s source said:
“Banks won’t want to jeopardise growth through taking control.
“It doesn’t make sense to take control of a business that’s performing well; this approach could be applicable to Liverpool.”
It seems that the multi-million pound milking of Liverpool FC by banks is set to continue.
The banks would have been better off refusing Hicks, if he couldn’t get the money to buy the club so how is Hicks going to finance the club for players when their competitors are all buying, Liverpool are being left behind by the rest. In football terms you say the club are performing well, it’s obvious you don’t know much about football. By not investing in players the team will eventually be left behind by the investing clubs and although they may be performing well of the feild, on the feild is where it matters and if you don’t have a winning team it won’t be long before you underperform off the feild. So I say again to the banks you have invested in the wrong man to move liverpoolfc forward, you should have looked at your options at getting your money back…..