Wednesday, 16th December 2009

Liverpool co-owners George Gillett and Tom Hicks are on the verge of selling a significant share in the club to a new investor according to the Daily Telegraph. The two are reportedly assessing numerous proposals, but are leaning towards an offer upwards of $100M each for the share. Gillett and Hicks have been searching for such a deal throughout the year, and it seems the wait to wrap up an agreement won’t be much longer.

It is understood the owners are planning to use the money to lower the club’s £240million debt before launching efforts on their new stadium development. The plans for a new structure have been all but approved, and it is believed a lessening of credit is all that is keeping the operation from moving in full swing.

Both are expected to relinquish the same share to the new investor, which will mean a new face in the boardroom without them having to surrender control of the club. The American duo believes Liverpool is worth more than the current market value of £500-£600million, a number that could well double after the stadium developments are completed.

 

 

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