Wednesday, 3rd February 2010
Liverpool managing director Christian Purslow has revealed co-owners Tom Hicks and George Gillett require a £100M investment before the summer, or face the prospect of having to sell the club when their current debt-refinancing agreement ends in July according to minutes of a meeting released by the Spirit of Shankly supporters group.
“One of our key priorities is to reduce the debt by £100 million," Purslow said. "This is a requirement from our bankers and will allow us to look at more flexible and longer-term refinancing when this investment is brought in. The targeted reduction was agreed by the bank, myself and the owners when I was brought in.”
Royal Bank of Scotland and Wachovia, the banks which whom Liverpool have a refinancing deal with, are putting pressure on the club to search for new investors to manage The Reds’ reported £237M debt.
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