Liverpool loan 'to be refinanced'
Tuesday 23 June 2009
Liverpool Football Club is close to renegotiating its debt with the Royal Bank of Scotland according to the BBC.
The American owners Tom Hicks and George Gillett have been told the debt, due to be repaid in July, will now be refinanced.
The BBC says RBS will insist on significant payments in the subsequent six months.
It is good news for the Anfield club, which owes £350m to two banks. There had been fears that the loan would not be refinanced, causing the club huge financial difficulties.
Yet while RBS has agreed to refinance their loan, the other bank Liverpool owe money, Wachovia, is yet to make a decision.
Latest in Sport
Hull v Arsenal: Arsene Wenger admits 'I am not in the best position' as contract uncertainty continues
West Ham confirm 20-year-old striker Dylan Tombides has died after battle with cancer
Monte Carlo Masters: Rafael Nadal infuriated by umpire's crackdown on his slow play
Manchester United transfer news: David Moyes watches Porto stars Eliaquim Mangala and Jackson Martinez as recruitment drive steps up a gear
Luis Suarez: Could Liverpool cash in on their star striker if they won the Premier League this season?
- 2 Overheard in Waitrose: documenting the chatter in 'Britain's poshest supermarket'
- 3 Video of British Muslims dancing to Pharrell Williams's hit Happy attacked as 'sinful'
- 4 24 people applied for the 'world's toughest job', here are their interviews
- 5 Grace Dent on TV: Game of Thrones has jumped the shark
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
Refugee facing deportation from Sweden saved by fellow passengers refusing to let plane leave