RBS Likely To Give More Time To Liverpool

The Financial Times reports that
Christian Purslow, managing
director of Liverpool, reveals
there are a few parties
conducting due diligence
currently.
Liverpool has a debt of £280
million owned to the Royal Bank
of Scotland which will become
due in mid-October. Co-owners
Tom Hicks and George Gillett
have been working hard to find
refinancing to hold on to the club
as their asking price of £600 to
800 million has been daunting to
many potentially interested
parties.
Purslow has made it clear the
board is likely to reject any
refinancing proposal put forth by
the current American owners.
There is the possibility that, if no
other solution is found by the
time the loan becomes due, there
may be a short extension if there
is a “clear plan to resolve the
question of ownership and the
financial stability ” according to
an insider. It is likely that there
will also be additional conditions
added to the loan.