Gillett, Hicks struggling with Liverpool debt, Arabs keen to lodge buyout offer: report

Canadiens majority owner George Gillett Jr. (left) with Tom Hicks, photographed last February at Anfield.
Peter Byrne – Pool/Getty Images

Liverpool FC could change hands
for the second time in a year as their American owners encounter difficulties in refinancing £350 million of debt incurred in taking over and running the club.

Beset by the steeply rising costs of a new stadium and manager Rafa Benitez’s demands for new players, Tom Hicks and George Gillett Jr. have been attempting to transfer the debt, for which they are personally liable, on to the club itself. City sources believe this is an extremely difficult task to complete before the loan’s due date at the end of February.

It is possible that the Americans will meet the deadline, but if not an Arab investment group, Dubai International Capital, is understood to be close to lodging an offer to buy out the American pair, probably for about £500 million.

Takeover discussions are thought to be due before the end of this month.

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