Sunday, 11th April 2010
Liverpool are hopeful that appointing a new chairman, independent of the club’s American owners, will boost their search for investment. Martin Broughton, a lifelong Chelsea fan and current chairman of British Airways is believed to have been approached with a view to taking the job. With Barclays Capital having been hired to find new investment for The Reds, US owners Tom Hicks and George Gillett believe Broughton will add stability and city credibility to the club, making it appear a safer investment.
Hicks and Gillett have been set a deadline of July by the Royal Bank of Scotland to reduce Liverpool’s debt level by at least £100M or the bank may not refinance their loan. While the owners still favour simply selling a stake in the club and remaining themselves, the situation is so critical that a full takeover will also be considered.
With Liverpool facing what looks like a sustained top four challenge from Tottenham Hotspur and Manchester City over the next few years, any investor is sure to know substantial funds will need to be put into the team to ensure consistent Champions League qualification.
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