With only one day to go until the dreaded October 6th deadline, many Liverpool fans are waiting in anticipation, wondering indeed what will happen on this dreaded day. Will the RBS recall the debts owed by the club placing them into the unthinkable state of administration? Will the American owners Tom Hicks and George Gillett succeed in their aims to finance their loans so they can keep their stranglehold on the club? Or will it simply be a case that nothing will happen at all?
Tomorrow, Wednesday October 6th, The RBS will demand £67 million to be paid instantly as part of interest payments owed from the club and it remains to be seem whether Hicks and Gillett have the money at their disposal to pay the bill, or if their current attempts to refinance the loan are ongoing in an attempt to raise this much needed capital.
It is believed that since the American owners took control of the Merseyside club the debts which have mounted up total over £350 million. In recent months Hicks and Gillett have made their best attempts to sell the club to the highest bidder in an attempt to not only wipe out the debt at the Anfield club, but maximise their own potential profit in the process.
This need to generate as much profit as possible from their endeavours saw the club on the market for a much higher price than that which all potential buyers were willing to pay, now leaving the only seemingly plausible course of action being Tom Hicks refinancing the loans in an attempt to raise enough funds to gain sole control of Liverpool Football Club.
Many fans have spoken in their numbers in recent months at their anger at Hicks’ plans, carrying out numerous plans of attack in order to ensure that the American doesn’t achieve his goal. A recent letter to Blackstone investment group on behalf of the Liverpool supports is believed to have played a big part in their rejection of any refinancing deal for Hicks.
However while this victory was definitely a step in the right direction for Liverpool fans, Hicks’ doesn’t seem to have got the message and despite being public enemy number one on Merseyside at the moment, is still looking to find a investment company to support his plans and financially back his business plan to continue ownership of Liverpool for the foreseeable future.
With the Reds situation on the field of plan seemingly as bad as it is off it, sitting in the relegation zone with just 6 points in 7 games after a surprising 2-1 loss at home to newly promoted Blackpool, the short term future of the club for its players, hierarchy and most importantly its fans looks a very difficult one.
If the owners were to refinance on their loans, it would most likely give them enough money purely to continue their ownership rather than placing any extra funds at boss Roy Hodgson’s disposal to help him turn around recent events. How is this possibly the best for the future of Liverpool football club?
It would seem that, as it has for a number of months, Tom Hicks is basically looking out for himself and what’s best for the 63 year, as opposed to what’s best for the Merseyside club. As the dreaded possibilty of relegation looms over the heads of the Anfield faithful, this will no doubt drive them forward once more to take action not only to ensure the future of their club financially but also to give their all to help the club keep their reputation as a big club in the best league in the world.
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