Purslow: We Will Block Hicks From Refinancing

LIVERPOOL managing director
Christian Purslow insists the
club ’s board members will firmly
resist any attempt by co-owner
Tom Hicks to refinance the club’s
debts of £237million with Royal
Bank of Scotland.
Reports suggest Hicks is trying to
raise cash to buy out the RBS
debt ahead of next month ’s
refinancing deadline in a bid to
retain control at Anfield.
But on the club website today,
asked if Hicks could refinance the
debt against the club ’s assets,
Purslow said: "That would
require Board approval and the
other members of the Board
have made it clear that ’s not
what we want to see happen. It’s
very unlikely.
"Any incurrence of indebtedness
by Liverpool Football Club needs
full Board approval. The non-
owner directors have made it
clear that ’s not what we want to
see happen."
The non-owner directors the
Reds MD refers to are
understood to be himself,
Commercial Director Ian Ayre and
Club Chariman Martin Broughton.
Purslow says he remains firmly
committed to the sale of the club
and believes Hicks and George
Gillett are still keen to sell.
"I can’t speak for the owners but
I am absolutely sure that both of
them are totally committed to
trying to sell the club as soon as
possible," he said.
"They haven’t had an offer yet
that they like and so I suspect
that both of them individually
and collectively are pursuing
their other alternatives and that’s
their prerogative.
"I want this club sold more than
anybody in the world. It ’s not
about me. I don’t have a contract.
"It would cost the new owner
nothing to say the day after he
buys the club, ‘Thanks very much
but we don’t need you.’ My job is
to make sure we find that owner,
to present the club in the best
possible light and leave it to a
new owner to decide who he
wants to run the club, but
without the obstacle of cost and
expense of a Managing Director
sitting on a large contract. I don’t
have one."