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Liverpool’s American owners have begun trying to sell the club and are involved in preliminary discussions with Kuwaiti tycoon Nasser Al-Kharafi, it emerged on Friday.
George Gillet and Tom Hicks have run into serious financing problems and are now prepared to sell all or part of their stakes provided a buyer matches their valuation of the business at more than STG500 million ($A1.06 billion).
Hicks and Gillet have until July to refinance debts of STG350 million ($A740 million) linked to their STG218 million ($A460 million) acquisition of the five-times European Cup winners in 2007. Financial analysts have warned that they will struggle to do so in the current climate.
Sources close to the club confirmed that substantive talks have taken place between aides to Al-Kharafi and representatives of Hicks, with the discussions understood to have initially focused on the tycoon only taking a partial stake.
In recent days however the focus has switched to a total takeover which both co-owners, who have rarely seen eye to eye in their time in charge, are understood to be seriously considering.
Al-Kharafi reportedly has harboured a soft spot for Liverpool since he studied Business Administration at the city’s College of Commerce, although that did not prevent him from considering a takeover of Newcastle last year.
Hicks and Gillet’s Liverpool reign has been dogged by controversy since the start and few Liverpool fans will mourn their departure, if it materialises.
The Americans have been widely criticised for shifting the debt they incurred to buy the club on to Liverpool’s balance sheet and for failing to deliver on proposals for a 60,000-seat new stadium close to the current ground at Anfield.
The owners also alienated many Liverpool fans by holding what were supposed to be clandestine talks with former Germany coach Jurgen Klinsmann about possibly taking over from the Reds’ hugely-popular manager, Rafael Benitez.
AFP gjw By Alec Kennedy
LIVERPOOL, England, Jan 23 AFP – Liverpool’s American owners have begun trying to sell the club and are involved in preliminary discussions with Kuwaiti tycoon Nasser Al-Kharafi, it emerged on Friday.
George Gillet and Tom Hicks have run into serious financing problems and are now prepared to sell all or part of their stakes provided a buyer matches their valuation of the business at more than STG500 million ($A1.06 billion).
Hicks and Gillet have until July to refinance debts of STG350 million ($A740 million) linked to their STG218 million ($A460 million) acquisition of the five-times European Cup winners in 2007. Financial analysts have warned that they will struggle to do so in the current climate.
Sources close to the club confirmed that substantive talks have taken place between aides to Al-Kharafi and representatives of Hicks, with the discussions understood to have initially focused on the tycoon only taking a partial stake.
In recent days however the focus has switched to a total takeover which both co-owners, who have rarely seen eye to eye in their time in charge, are understood to be seriously considering.
Al-Kharafi reportedly has harboured a soft spot for Liverpool since he studied Business Administration at the city’s College of Commerce, although that did not prevent him from considering a takeover of Newcastle last year.
Hicks and Gillet’s Liverpool reign has been dogged by controversy since the start and few Liverpool fans will mourn their departure, if it materialises.
The Americans have been widely criticised for shifting the debt they incurred to buy the club on to Liverpool’s balance sheet and for failing to deliver on proposals for a 60,000-seat new stadium close to the current ground at Anfield.
The owners also alienated many Liverpool fans by holding what were supposed to be clandestine talks with former Germany coach Jurgen Klinsmann about possibly taking over from the Reds’ hugely-popular manager, Rafael Benitez.
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