RBS Will Take Over Liverpool If Buyer Not Found

THE Royal Bank of Scotland is poised to step in and take control of Liverpool Football Club if a buyer cannot be found.
RBS, which was bailed out by the government with taxpayer’s cash in October 2008, is owed £237m as the chief creditor of LFC.
The bank has said this money must be repaid by October 6, or they will demand a penalty fee of £60m.
That date is just seven weeks and two days away.

Negotiations to find a new owner for the club are well underway, but the ECHO understands that talks with potential suitors, including China’s Kenny Huang and Syrian businessman Yahya Kirdi, have yet to yield an attractive enough bid.
Insiders have also said preparatory talks with LFC bosses have been held in recent weeks to discuss what will happen if the search for a buyer fails and how the football club and bank will proceed.
It has been a turbulent August for those in the Liverpool board room, where chairman Martin Broughton is leading the search for a new owner.
The club has been linked with everyone from mega-rich Middle Eastern families to the government of Communist China.
A source close to the negotiations said neither RBS or LFC wanted the bank to step in, and every effort was being made to find a suitable buyer for England’s most successful football club.
The Reds new season got underway at Anfield yesterday with a 1-1 draw against Arsenal – a match in which debutant Joe Cole was shown a straight red card.
Hours before kick-off, Liverpool managing director Christian Purslow said he and chairman Martin Broughton, were in the process of sorting “the wheat from the chaff” in the bids.
Mr Purslow said: “We have had a number of bids for the club. We will take time to examine those extremely carefully. I would not expect it to be a lifetime – but I would not expect it to be tomorrow either. We have just received some written bids at this stage, and it would be wrong to characterise anybody as a front-runner.”