Business | Investment
Liverpool refinancing deal nears completion
Liverpool's American owners Tom Hicks and George Gillett are expected to soon announce they have successfully negotiated a refinancing deal for the club, British media reported.
- Reuters
- Published: 00:19 January 26, 2008
London: Liverpool's American owners Tom Hicks and George Gillett are expected to soon announce they have successfully negotiated a refinancing deal for the club, British media reported.
Hicks and Gillett, who bought the club 11 months ago for £220.0 million, have been organising the £350 million deal with banks.
The agreement will allow them to refinance their original deal, repay loans taken out to buy players last year and to commence work on a new stadium.
Details of a the design for the new stadium are also expected to be revealed when the deal is announced.
While the Americans were negotiating with the banks, there was also speculation that Dubai Investment Capital, the investment arm of the Dubai government, outbid when Hicks and Gillett bought the club last year, were considering a renewed bid.
Liverpool fans expressed their anger at Hicks and Gillett at Monday's Premier League match with Aston Villa with banners protesting about their involvement.
Share this article
More from Investment
More from Business
Popular in Business
-
General
Precious jump
Gold prices at new high as India's central bank buys $6.7b worth of gold
Business Editor's choice
-
Sweet life in the Middle East
A sweet look at the confectionary industry in the UAE and Middle East
-
Passion for pets can be expensive
Responsibility and time spent add to costs for furry friends
-
Facebook farm game under cloud
Mobile phone contracts can be used to buy virtual money
