The latest Liverpool investment speculation continues to stay uppermost in LFC media coverage, with indications from the Saudi group that Tom Hicks personal financial motivation continues to provide a stumbling block.
Barry Didato who is a senior director with the F6 investment firm said:
“Right now George has a lot of ongoing issues with his existing partner, and he is working through those with the banks and Premier League.
“Prince Faisal has said we’re keeping a very open-door policy to it, but that the existing partnership should not look to him being a solution to Liverpool’s balance sheet and there are some balance sheet issues yet to be resolved.”
George Gillett meanwhile insists that investment in Liverpool FC wasn’t even discussed at the meeting – contrary to what has been coming from the Saudi firm
“We had a marvellous meeting with them on Saturday and they were impressed with the club, but the academies in Saudi Arabia and North Africa and their possible involvement in NASCAR-type racing in the Middle East were the only items on the agenda.“
And muddying the waters even more it seems that the banks, who currently appear to hold all the power, are believed to have warned Hicks and Gillett that they cannot continue to operate Liverpool with such stratospheric debts.
George Gillett recently received around £300M for selling his Montreal Canadiens team, and Tom Hicks is also due for a similar sized windfall when he completes the sale of the Texas Rangers.
Liverpool FC are currently in debt to the tune of around £260M. Around £220M more than when Hicks and Gillett walked through the door promising not to put the club in debt.