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
Five Lessons to Prepare for College Soccer    
Ed McLaughlin, the Athletic Director at Virginia Commonwealth who has been involved in college athletics for ...
Cal South TOPSoccer Program Turns 25    
"We're all soccer players, special needs or not," says Sandy Castillo, chair of the Cal South ...
How Neymar Played in Childhood     
Neyrmar: "I used to pick up the ball, set up the furniture and go around dribbling ...
Chivas USA Youth Players Face Murky Future    
Chivas USA, which folded after the 2014 season, had one of the MLS's most ambitious youth ...
Roma Partnering with U.S. Youth Clubs    
Italian Serie A club Roma, which has American ownership, aims to forge partnerships with seven U.S. ...
LVG: Falcao "Has to Prove Himself"    
Manchester United coach Louis van Gaal has responded to criticism over dropping Radamel Falcao by claiming ...
Report: Adidas to Assist Messi Move?    
According to Spanish sports daily AS, Lionel Messi's sponsor Adidas could be the key to the ...
Mourinho Questions Man City's Transfer Policy     
Chelsea coach Jose Mourinho suggested that rival Manchester City is not adhering to UEFA's Financial Fair ...
Toure Admits Man City Future in Doubt     
Speaking ahead of the opening games of the African Nations' Cup in Equatorial Guinea this weekend, ...
Ronaldo Blasts 'Defensive' Atleti Tactics    
Cristiano Ronaldo blasted Atletico Madrid for its unattractive style after the Rojiblancos ousted Real Madrid from ...
>> Section 2 Around the Net Archives