Friday, September 10, 2010

RBS moves to force George Gillett and Tom Hicks to sell Liverpool

Tom Hicks and George Gillett's ill-starred reign as owners of Liverpool looks like having less than a month to run after the club's loans with Royal Bank of Scotland were placed into its toxic-assets division.

The deadline for the refinancing of the owners' personal loans from RBS is 6 October, and that now looks set to be the date that Hicks and Gillett's association with England's most successful club will end. The bank's decision to switch the debts to its Global Restructuring Group is the strongest possible signal that these loans will not be extended.

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