Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
Gillett, DIC Urge Hicks to Sell Liverpool Stake
Guardian, January 18th, 2008 4:15PM

MOST READ

MOST COMMENTED

Americans George Gillett and Tom Hicks have nearly finalized a refinancing plan for the $700 million debt incurred when they took over Liverpool last February. The loan deal involving the Royal Bank of Scotland and U.S. investment firm Wachovia is set to be completed early next week, provided Gillett and Hicks agree to the terms.

However, the Guardian reports that all is not well in the American camp. Gillett in particular is understood to have "grave misgivings" over Hicks' involvement, and could be supporting a proposed buyout of the sports mogul's 50 percent stake by Arab investment Dubai International Capital, whose presence has hovered over the unrest at Liverpool in recent weeks. DIC lost out in the pursuit of former club chairman David Moores' majority stake when the group failed to meet agreed upon deadlines last February, enabling the Americans to swoop in to complete the takeover.

According to the Guardian, Gillett is now aligning with DIC to persuade Hicks to sell his stake at "a substantial profit." Sources say a deal has been drafted and agreed upon in principle, but it would have to be put in place before the Americans sign the loan deal next week. However, the Gillett-DIC plan would be moot if Hicks has no interest in selling-which he has repeatedly insisted.

Read the original story...



No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Steven Gerrard: 'Every Person Slips'    
Steven Gerrard says the slip that arguably ended Liverpool's title hopes and England being knocked out ...
La Liga Champ Eying Chicharito    
Mexican striker Javier Hernandez, who started just six Premier League games for Manchester United last season ...
No Charges for Moyes Over Bar Incident    
Former Manchester United coach David Moyes is in the clear after he was investigated over an ...
West Ham Acquires Ecuador World Cup Striker    
West Ham has finalized a $20 million transfer of Ecuador striker Enner Valencia from Mexican club ...
Bayern Boss Not Allowed To Board Plane to USA    
Bayern Munich executive board chairman Karl-Heinz Rummenigge, along with six youth players and three crew members ...
Thai Refs Must Swear Oath to Buddha     
Thailand's soccer federation bosses have made more than 100 referees swear an oath of honesty at ...
Scolari Gets a Job    
Luiz Felipe Scolari, who resigned as Brazil coach after its disastrous 2014 World Cup campaign, has ...
World Cup Runner-up Coach Steps Down    
Alejandro Sabella, who guided Argentina to the World Cup final in Brazil, has decided to quit ...
Ronaldinho on the Move    
Former World Player of the Year Ronaldinho has left Atletico Mineiro. The 34-year-old former Barcelona, AC ...
Beer Approved in the Big House    
Normally, alcohol sale and consumption is strictly forbidden inside the University of Michigan's stadium, but beer ...
>> Section 2 Around the Net Archives