Tom Hicks latest attempt to refinance Liverpool’s enormous debt in return for an equity share in the club has been sunk following a weekend of Liverpool FC fans campaigning.
According to The Guardian, GSO Capital Partners (a subsidiary of Blackstone Investments) have walked away from discussions with Tom Hicks.
Tom Hicks requires the loan with the Royal Bank of Scotland to be paid off by next month if he is to stay in control of the club. The Royal Bank of Scotland has consistently extended deadlines for the sale of the Anfield club, but with no willing investors at the price Hicks’ wants, and with ballooning debt – the RBS debt is now in danger of turning toxic for the taxpayer-owned bank.
Tom Hicks and George Gillett paid £170M for Liverpool FC in January 2007 plus another £40M for Liverpool’s debt at that time.
Estimates now place the reds as being in more than £400M of debt, with £270M owed to RBS and almost £150M owed to Hicks and Gillett’s private Cayman Island based investment funds, which has been used to perform debt swaps at every renegotiation with the bank.
Fans groups have issued warnings that any financial institution that refinances Tom Hicks and George Gillett will face a PR backlash, and the owners finances will become a target of a widespread boycott.
anti HICKS AND GILLETT, ANTI YANKS AT OUR CLUB, GET OUT OF OUR CLUB YOU *******
have sent every email i can, i will be outside the ground for blackpool with black liverpool shirt on,,, its time we got aggressive in our match day protests, they have not worked so far, waving falgs isnt going to cut it, i want fans and all to join in delaying kick off for games, etc, all really aggressive match day stuff so it gets on tv and around the world and maybe all thes money men and all can see we are not just any club, enough is reall enough lets give them so much stick
please do not drag our club through the mud ,we do need to get rid of yank rubbish but wait it will happin
LFC need to be owned and controlled by Liverpool people and supporters ! Anyother investors will only do similar to ‘H’ & ‘G’ , by taking profits in the same fashion !!!
Bring back the likes of STEVE MORGAN partnered with LFC’s ‘FAN-BASE’ !!! The profits need to be ploughed back into the ‘club’ !!!