A formal bid delivered at the weekend by New York-based global equity bid Rhone Group for a 40 per cent equity stake in Liverpool has opened up a new chapter in the long-running ownership saga at the club. Fans are sceptical or even downright hostile and the current American owners, Tom Hicks and George Gillett Jnr, look unlikely to accept the offer because it falls below their expectations. However, they are running out of road as they have to repay £10
A formal bid delivered at the weekend by New York-based global equity bid Rhone Group for a 40 per cent equity stake in Liverpool has opened up a new chapter in the long-running ownership saga at the club. Fans are sceptical or even downright hostile and the current American owners, Tom Hicks and George Gillett Jnr, look unlikely to accept the offer because it falls below their expectations. However, they are running out of road as they have to repay £100m to Royal Bank of Scotland by the summer. Moreover, the fact that the offer is a formal one may tempt other bidders to come out of the woodwork.
Rhone would pay off £237m of the debt with their own cash. This would reduce interest payments from £30m to around £15m a year and would, in principle, free up money for badly needed new players.
The arrival of this offer suggests that the efforts of new managing director Christian Purslow are starting to have results. He has a background in the banking and finance industry and hence contacts he can use and a credibility with prospective purchasers.