The July deadline for Liverpool co-owners George Gillett and Tom Hicks to refinance their £350m loan with Royal Bank of Scotland and Wachovia is looming on the horizon. George Gillett has appointed advisers in the US, Canada and Europe to look at his options. It has been suggested that he urgently needs to reduce his overall debt burden. He could sell his 80 per cent stake in the Montréal Canadinens ice hockey team. There has been speculation that Mr Hicks might consider selling his New York Rangers baseball team.
The July deadline for Liverpool co-owners George Gillett and Tom Hicks to refinance their £350m loan with Royal Bank of Scotland and Wachovia is looming on the horizon. George Gillett has appointed advisers in the US, Canada and Europe to look at his options. It has been suggested that he urgently needs to reduce his overall debt burden. He could sell his 80 per cent stake in the Montréal Canadinens ice hockey team. There has been speculation that Mr Hicks might consider selling his New York Rangers baseball team. The problem is that many sports franchises in the US are currently up for sale. The majority of these assets are owned by people who borrowed heavily to finance their purchases, producing something of a fire sale. Nevertheless, there are some seriously wealthy people in Quebec and elsewhere in Canada who might be interested in acquiring the Canadiens. Even if the loan is re-financed, the question of how Liverpool’s much needed new stadium is to be funded remains open.