Liverpool Deal Likely This Friday

Premier League officials have promised to ratify Liverpool's potential new owners as quickly as possible. Some estimates have suggested the process could be completed before Friday. Regulatory checks are required before the sale can be agreed by the football authorities pending court action from the current owners. This could also be heard by the weekend. A league statement reads: "The board of the Premier League has been kept fully informed of developments regarding the potential sale of Liverpool FC by the chairman and senior executives of the club and has, accordingly, been made aware of a number of potential prospective owners in recent weeks. "We can confirm that Liverpool FC has formally notified the Premier League of an intended change of control and that the board has undertaken to complete all the necessary processes by Friday, October 8 so that the sale of the club can proceed." There has also been a clear indication that the Reds will not lose points should the parent company set up by Gillett and Hicks to purchase the club, Kop Holdings, be placed in administration should they default on loans to the Royal Bank of Scotland. The football club is its only asset and was later charged with meeting interest costs plus other liabilities relating to capital but Liverpool FC exists independently as a solvent entity. A similar situation arose at West Ham United last season with the Hammers, unlike Portsmouth who had a different structure, not docked points. Over £280 million is required by RBS by Friday October 15 unless the debt is refinanced but comments from inside the Premier League offer assurance regarding league points being lost. If the nine points usually deducted were taken from Liverpool their tally would be a minus figure. However, on this topic the rules seem clear. "The aim of the regulations is primarily to capture clubs who have gone into insolvency," one individual is quoted as saying. "This is manifestly not the case with Liverpool Football Club." Legal opinion gained by the board is understood to support this stance.