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.