Liverpool FC close to debt deal
LIVERPOOL Football Club are close to renegotiating their debt with the Royal Bank of Scotland, reports suggest.
The Anfield club owes £350m to two banks – RBS and Wachovia – and there had been fears that the loan would not be refinanced, causing it huge financial difficulties.
But US owners Tom Hicks and George Gillett have been told by RBS that the debt, due to be repaid in July, will be refinanced, according to the BBC.
A new lending agreement will be put on place but RBS will insist on significant payments in the subsequent six months, it is understood.
Earlier this month, KPMG auditors of Liverpool’s parent company, Kop Football (Holdings) flagged up concern over the future due to concerns over the refinancing.
Kop Football (Holdings) Ltd made a pre-tax loss of £42.6m, with its net debt rising to £299.5m.
On a more positive note, George Gillett this week confirmed that he will be selling his 80% share in National Hockey League side Montreal Canadiens for a sum said to be more than £300m.
