Harris reveals Reds concern

12 November 2008 08:35
Liverpool could face financial difficulty in January, according to the man who has brokered takeover deals at several Premier League clubs. Keith Harris, the investment banker who has been involved in the buy-outs at five top-flight clubs in recent years and is currently attempting to find investors for both Everton and Newcastle United, believes the Reds could be susceptible to the credit crunch. Speaking at the International Football Arena in Zurich, Harris claimed he was most worried about the Merseyside club in the current financial climate. According to reports, the club's American owners George Gillett and Tom Hicks are required to repay £350million to two of the banks - Royal Bank of Scotland and Wachovia - hit hardest by the current financial slowdown in January. The reports also suggest there is an option to delay the payment for a further six months. Harris claimed most Premier League clubs should be able to service any debts they have incurred, but admitted he was most concerned for Liverpool's future. "The one that worries me is Liverpool," he admitted. "The banks are two of those that have suffered, so whether they want to lend it again or not, they may not be able to. "What normally happens in business is, if the banks won't finance, you have to raise equity."

Source: ESA