George Gillett and his much taller partner, Tom Hicks, have bought themselves 12 months of breathing room on their loan from the Royal Bank of Scotland and Wachovia.
Uncles George and Tom – or, as they’re known in the pubs of Liverpool, “those Yank c%$#s” – still owe a huge whack of money and have to a) maybe find a deep-pocketed partner and b) figure out how to build a new stadium at Anfield.
From the Guardian:
When they bought Liverpool in 2007 for £174m assuming £44.8m in
liabilities, Gillett promised not to load any debt on to the club. When
it emerged that they had done so, and that plans to build a new stadium
were being put on hold, there was anger from fans.
Learned colleague Pat Hickey reveals BMO has replaced bankrupt CIT in providing $225 million toward the Molson brothers’ $550 million purchase of the Canadiens.