Hicks expects Liverpool buyer to be found in Asia

Liverpool co-owner Tom Hicks believes a buyer for the club is more likely to be found in the Middle East or Asia.

The American, together with compatriot George Gillett, put the Reds up for sale last month.

Hicks hopes to get between £600million and £800million for the club and feels a mega-rich supporter from their huge overseas fanbase would be the most likely new owner.

"Liverpool has a really big universe of interested buyers," said the Texan.

"There are a number of wealthy people all over the world, particularly in the Middle East and Asia, who are enormous Liverpool fans."

Having leveraged huge debt on the club - parent company Kop Holdings were £351million in the red last summer with annual loan repayments of £40million - Hicks may find he has to lower his asking price, especially with a new stadium in Stanley Park still waiting to be built.

The 64-year-old has admitted it could take between 12 and 18 months and the longer it is on the market the more the price will reduce.

But Hicks has no desire to carry on and wants out of the sports investment business as quickly as possible.

His Texas Rangers baseball side filed for bankruptcy on Monday 13 months after its parent company, HSG Sports Group, defaulted on £360million of debt.

The Dallas Stars ice hockey franchise is also being sold and Liverpool will be the last of his three main sports investments to be offloaded.

"Sports has never been my primary business," Hicks, who has been the target of a sustained and often vitriolic fans' campaign, told Bloomberg BusinessWeek.

"We are systematically selling our sports assets to focus on our core businesses like private equity and real estate.

"The lack of privacy in sports is something that my family and I aren't willing to undertake any longer.

"We'll always be big fans but we want our privacy back."

Former striker John Aldridge criticised Hicks and Gillett for loading huge debts on the club and dismissed the former's claims that Liverpool were in a better position now than they were three years ago when the Americans took charge.

"Any club that is losing £110,000 a day (on loan repayments) is in big trouble - whether they are Liverpool or not," he said.

"We are in a massive mess. It is ridiculous to say we are in a good situation - absolutely ludicrous."

News
i100 In this video, the late actor Leonard Nimoy explains how he decided to use the gesture for his character
Arts and Entertainment
Secrets of JK Rowling's Harry Potter workings have been revealed in a new bibliography
arts + ents
News
Robert De Niro has walked off the set of Edge of Darkness
news The Godfather Part II actor has an estimated wealth of over $200m
Arts and Entertainment
Fearne Cotton is leaving Radio 1 after a decade
radio The popular DJ is leaving for 'family and new adventures'
Have you tried new the Independent Digital Edition apps?
Caption competition
Caption competition
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Bleacher Report

Daily Quiz
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Day In a Page

HIV pill: Scientists hail discovery of 'game-changer' that cuts the risk of infection among gay men by 86%

Scientists hail daily pill that protects against HIV infection

Breakthrough in battle against global scourge – but will the NHS pay for it?
How we must adjust our lifestyles to nature: Welcome to the 'Anthropocene', the human epoch

Time to play God

Welcome to the 'Anthropocene', the human epoch where we may need to redefine nature itself
MacGyver returns, but with a difference: Handyman hero of classic 1980s TV series to be recast as a woman

MacGyver returns, but with a difference

Handyman hero of classic 1980s TV series to be recast as a woman
Tunnel renaissance: Why cities are hiding roads down in the ground

Tunnel renaissance

Why cities are hiding roads underground
'Backstreet Boys - Show 'Em What You're Made Of': An affectionate look at five middle-aged men

Boys to men

The Backstreet Boys might be middle-aged, married and have dodgy knees, but a heartfelt documentary reveals they’re not going gently into pop’s good night
Crufts 2015: Should foreign dogs be allowed to compete?

Crufts 2015

Should foreign dogs be allowed to compete?
10 best projectors

How to make your home cinema more cinematic: 10 best projectors

Want to recreate the big-screen experience in your sitting room? IndyBest sizes up gadgets to form your film-watching
Manchester City 1 Barcelona 2 player ratings: Luis Suarez? Lionel Messi? Joe Hart? Who was the star man?

Manchester City vs Barcelona player ratings

Luis Suarez? Lionel Messi? Joe Hart? Who was the star man at the Etihad?
Arsenal vs Monaco: Monaco - the making of Gunners' manager Arsene Wenger

Monaco: the making of Wenger

Jack Pitt-Brooke speaks to former players and learns the Frenchman’s man-management has always been one of his best skills
Cricket World Cup 2015: Chris Gayle - the West Indies' enigma lives up to his reputation

Chris Gayle: The West Indies' enigma

Some said the game's eternal rebel was washed up. As ever, he proved he writes the scripts by producing a blistering World Cup innings
In Ukraine a dark world of hybrid warfare and murky loyalties prevails

In Ukraine a dark world of hybrid warfare

This war in the shadows has been going on since the fall of Mr Yanukovych
'Birdman' and 'Bullets Over Broadway': Homage or plagiarism?

Homage or plagiarism?

'Birdman' shares much DNA with Woody Allen's 'Bullets Over Broadway'
Broadchurch ends as damp squib not even David Tennant can revive

A damp squib not even David Tennant can revive

Broadchurch, Series 2 finale, review
A Koi carp breeding pond, wall-mounted iPads and a bathroom with a 'wellness' shower: inside the mansion of Germany's 'Bishop of Bling'

Inside the mansion of Germany's 'Bishop of Bling'

A Koi carp breeding pond, wall-mounted iPads and a bathroom with a 'wellness' shower